14.01.201907:58 Forex Analysis & Reviews: Ethereum analysis for 14/01/2019

After the recent attack on the Ethereum network, the $ 100,000 Gate.io cryptocurrency exchange has been reportedly returned, according to its official blog on January 12.

The company also noticed that it tried to contact the attacker, but so far it has not received any answer and does not know the reason for the refund. The Exchange declared: "If the attacker did not do it for profit, he could be a white hacker who wanted to remind people of the risks associated with Blockchain's consensus and undermine network security."The term "hacker in a white hat" refers to a hacker with strong professional ethics that uses his hacking skills for the good of the public, not for personal gain. Gate.io exchange also notes that the current Ethereum Classic network node can still take sufficient computing power by repeating the attack. As a result, the number of required receipts for Ethereum Classic deposits has been increased to 4,000 at the exchange as a form of protection against such attacks.

Let's now take a look at the Ethereum technical picture at the H4 time frame. The market has fallen lower towards the technical support at the level of 108.46 and currently is trading around this level. The nearest technical resistance is seen at the level of 117.40 and it is possible for the market to test is as the conditions are now oversold and there is a bullish divergence between the price and the momentum. Any breakout above the level of 124.43 will open the road towards the key technical resistance at 140.00.