EthereumPoW (ETHW) was launched on Thursday but has fallen sharply since its listing, despite support from numerous exchanges.
По Ethereum (ETH) Спојувањето започна во живо, некои рудари решија да останат и да го поддржат доказ за работа (PoW) consensus. This will create a new fork and the launch of the ETHW мрежен мрежа ETHW is a Layer 1 blockchain that preserves the pre-merge PoW consensus.
Some of the first exchanges to list the new coin were FTX, Кракен, Бајбит, Huobi. ETHW was distributed through an airdrop. While some of the biggest Ethereum mining pools, such as Ethermine have decided to shut down operations, more than 20 активни рударски базени фокусирајќи се на ETHW.
Транзицијата досега не беше целосно мазна, бидејќи имаше проблем со предложена идентификација на синџирот, кој навидум веќе го користел А Bitcoin cash testnet.
With that in mind, it is interesting to look at the price movement since the listing, which has been bearish so far.
ETHW falls after listing
ETHW has been falling underneath a descending resistance since its opening day high $27.90. The downward movement led to a low of $11 the next day, before a bounce began.
However, the bounce was short-lived, and the price was rejected by the descending resistance line (red icon) the same day. ETHW has now nearly fallen to the $11 level once more.
The bounce since the lows was contained inside an ascending parallel channel. Such channels usually contain corrective movements, meaning that a breakdown from it would be expected.
ETHW did break down on Friday and validated the channel as resistance afterward (red icon). This is in alignment with the previously outlined descending resistance line.
If the downward movement continues, the closest support levels would be at $9.33 and $6.80, created by the 1.27 and 1.61 external Fib retracement levels, respectively.
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Source: https://beincrypto.com/ethereumpow-ethw-plummets-following-successful-launch/