Looking at the price action today reminds me of the first analysis. Prices rallied during the short bull excitement but began to fall as the bears returned. Looking at the chart, prices are expected to find support at $405 as price may continue to fall during the weekend. A break at this support will send the smart contract platform token seeking support at $362. Recently Joseph Lubin, co-founder of Ethereum, announced in the RISE conference held in Hong Kong, that the Ethereum blockchain has now entered the second phase of its development which will focus on the development of solutions like Plasma and Sharding.
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