Ethereum analysis for 23/08/2018

The Google Play store on Android has recently become the home of another application for the Ethereum fraud.

Lukas Stefanko, a malware researcher from Slovakia, found a fake application called "Ethereum" on Google Play, which was offered at a price of 335 euros or about 388 dollars. In yesterday's tweet, the researcher pointed out that the purchase of applications is not the same as buying Ethereum, which suggests that his latest discovery is a cryptographic fraud aimed at deceiving users by pretending the original Ethereum altcoin, with a current value of around $ 290.

Tweet Stefano informs that the application, which is described as "Ethereum only", was developed by the so-called "Google Commerce Ltd", and it was installed more than 100 times since the last update in August 2017. The real name of the application developer supported by Google in The Google Play store is "Google LLC." Currently, this app is no longer available on Google Play.

On July 27, Google introduced a ban on the application to extract crypts in the Play Store, allowing only remote mining applications. According to The Next Web, despite the recent ban, many illegal applications such as JSEcoin still appear in the store. The agency notes that developers have 30 days to adapt to changes since the policy update date.

Earlier in April, the technology giant also announced a ban on all extensions that would allow mining in the Chrome Web Store. In March, Google followed Facebook, announcing the ban on all types of ads related to cryptography, which later affected the markets.

Let's now take a look at the ETH/USD technical picture at the H4 time frame. The market is still moving inside the blue channel after the bounce from the level of $246. The nearest technical support is seen at the level of $255 and the nearest technical resistance is seen at the level of $268 and $278. The market conditions remain oversold, but the momentum is not rising yet.


The material has been provided by InstaForex Company -