Weekly Periodic Review For Ethereum And Core Layer 2 Technology Solution Networks

Weekly Periodic Review For Ethereum And Core Layer 2 Technology Solution Networks

By Rubikkav | Rubikkav Insights | 18 Jul 2023


  • While Bitcoin parades with negative sentiment, Ethereum remains bogged down by the big problem of high transaction costs.
  • Many people are migrating to other networks. Optimins, Polygon and Arbitrium are being the best options to create scalable solutions.

By the narrative of some traders, you will not be warned that what many really expect is for the precious weekly gold cross to give that injection of strong money in Bitcoin.

The golden crossing happens when the MA50 crosses the MA200, from bottom to top; signaling the beginning of an extremely bullish period.

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Technically for Bitcoin, the $31856.98 point is being a very strong resistance that it has not been able to break. Therefore, it is not ruled out that in the coming weeks, this asset will seek to touch the MA200 at approximately $27022.65 and traders will finally see the bullish signal mentioned above.

It Doesn't Come Or Go Or Dance

We acknowledge that Ethereum has the second largest cryptocurrency market capitalization. But lately many traders and crypto fans are losing buying interest.

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On a weekly basis it has been stuck in a price oscillation between $1843.25 and $1964.75 and with the probability of following the path of wave 3 or defining once and for all the corrective wave 4 path.

With Good Growing Optimism

The Optimism (OP) network is holding a good trend reversal signal towards a continuation of a weekly wave 3. For now there is a strong resistance point at approximately $1,596. Once that barrier is overcome, this asset could exceed $2.

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Top volatility point towards to touch of the $1,625 resistance and mid-volumes remain neutral. To this, it is added that it is leaving the oversold zone in anticipation of going to the zone of maximum interest.

Cheap Network Of The Moment

Recently the Polygon (Matic) network has released news of its upcoming updates and future projects. Among these, the scalable solution through virtual machines and the possible renaming of its Matic token for POL.

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Technically Matic, and currently, it is noted that its price will be oscillating between $0.734 and $0.8, trying a reversal pattern to break important resistances. However, it is important to remember that this touch must break $0.91 to be considered an effective entry, as it is in a possible WXYXZ accumulation zone.

Slowed Steady Growth

In the case of Arbitruin (ARB), the price of the token for the daily time frame is seeking to complete shock wave 3, with the possibility of touching $1.36. It will surely make its correction very close to $1.13 within a wave 4 and from there it will exceed expectations.

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In full, the token begins to enter the overbought zone, but with a volatile determination to possibly step on the support of $0.95.


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