Ethereum’s Consortium bets on corporate users as ETH/USD hovers under $200

• Ethereum stays under $200 after Monday’s sell-off.
• EEA Consortium publishes a new set of standards for developers.

ETH/USD is changing hands at $196.30. The second largest coin by market capitalization is rangebound after a sharp sell-off at the beginning of the week. Ethereum’s market value is registered at $20.3B, while an average daily trading volume is $1.3M.

EEA Consortium released new specifications for corporate blockchain solution development

A blockchain consortium Ethereum Enterprise Alliance (EEA) published the second standards and specifications for off-chain trusted computations for developers engaged in creating corporate solutions based on ethereum protocol.

“Breaking news: Both the EEA Off-Chain Trusted Computer Specification V0.5 document AND the #Enterprise #Ethereum Client Specification V2 document are available for public download on our website! Visit the EEA at #Devcon to learn more!” the Consortium wrote in the official Twitter account.

Such standardization will make EEA solutions more attractive to corporate users, while off-chain trusted computations will allow them to make calculations outside the main network.
ETH/USD, the technical picture

ETH/USD stays under $200 handle, but the downside momentum has faded away. The coin has entered a consolidation phase with the nearest critical support seen at October 11 low of $186.00. Once it is cleared, September 12 low at $167 will come into focus.

The upside is capped by SMA50 1-hour) at $196.89. I am followed by $200 with SMA100 and SMA200 (1-hour) right above this level. A sustainable movement higher will open up the way towards $211 (SMA200, 4-hour).

ETH/USD, 1-hour chart