Ronin Network to Transition to Ethereum Layer 2
- Network Architecture Shift: Ronin Network is set to undergo a significant upgrade on May 12, transitioning to an Ethereum Layer 2 solution, which is expected to cause an estimated 10-hour service interruption, thereby enhancing network security and scalability.
- Economic Model Update: The migration will redirect approximately 90 million RON tokens from staking rewards to the treasury, while the marketplace commission rate will increase from 0.5% to 1.25%, aiming to provide the community with more sustainable revenue streams.
- Incentive Mechanism Reform: The new “Proof of Distribution” incentive mechanism will reward developers actively participating in the network, projected to reduce RON's annual inflation rate from over 20% to below 1%, thus enhancing the long-term value of the token.
- Positive Market Response: Although RON's trading price remains below this year's peak, the migration news has driven a 30% increase over the past month, with a market capitalization of approximately $89.5 million, as investors closely monitor changes in supply dynamics.
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Technical Analysis for ETH
Technical Sentiment Analysis for Ethereum (ETH). As of , Ethereum (ETH) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 3 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ETH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, ETH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Ethereum (ETH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 2098.395 | 2182.002 | 2256.525 | 2340.132 | 2414.655 | 2498.262 | 2572.785 |
| Fibonacci | 2182.002 | 2242.408 | 2279.727 | 2340.132 | 2400.538 | 2437.857 | 2498.262 |
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