The ETH/USD crypto coin is currently facing a barrier that could make or break its progress. The ETH/USD crypto coin was trading within a range of 2,650.70 to 2,856.63 in the previous 24 hours. The price of the ETH/USD crypto coin was on a tear as it entered the supply zone, extending from $2,689 to $2,889 to breach this level. However, Elon Musk’s recent tweet prevented this from happening. Despite a 6% drop, ETH has succeeded in staying inside this resistance area. The ETH/USD is trading at 2,646.13, and consolidating in the range between 2,632.76 and 2,888.94.

Ethereum surged on Thursday after the Cybersecurity Company Norton announced a new element that would allow users to mine Ethereum using their graphic cards. The new feature, called “Norton Crypto”, will work with the firm’s Norton 360 internet security suite. Customers were invited to try out the new feature from Thursday. CEO Vincent Pilette explained that digital assets were continuously growing, and were headed towards becoming an integral part of consumers’ lives.

Meanwhile, the co-founder of Ethereum, Vitalik Buterin, discussed the highly anticipated full transition from a proof-of-work consensus model to a proof-of-stake, as its replacement. Buterin acknowledged that the transition was taking too long, but he also stated the reason. He highlighted the fact that technical problems were not causing the delay, but rather problems relating to people. Buterin stated that Ethereum was now in a better economic position, and that it had taken nearly five years to reach this point. He explained that they had a lot of internal team conflicts during those five years. He concluded that when building a team, one must know who he is working with. Furthermore, Miami’s Mayor, Francisco Suarez, is trying to increase the city’s attractiveness as a technological hub. Miami is one of the first cities in the US to have announced plans to include bitcoin in its balance sheet, to give its employees crypto payment options and to and allow its citizens to pay their taxes in crypto. He added that some legal hurdles must be overcome in order to fulfil his plans.

Suarez also revealed that he was a crypto investor himself, and that he had bought BTC and ETH when the cryptocurrencies were trading below $1,500. He also added that he purchased ETH when the US Senate passed the $1.9 trillion stimulus bill. He said that one of the reasons behind this was that inflation was inevitable, and there had to be some kind of hedge.

The DOGE/USD price stopped its previous bullish streak and started to flash red on the day. Despite Tesla billionaire Elon Musk, the meme-loving CEO who also leads the rocket company (SpaceX), having boosted his support of the “joke” cryptocurrency Dogecoin in recent months, the DOGE/USD coin dropped from 0.399588 to 0.368816 on the day. It is worth recalling that the prices of Dogecoin rose when Musk flirted with the idea of accepting the meme-based Dogecoin as payment, and promised to put a “literal” Dogecoin on the moon. He also called a dogecoin-heated hot tub a “great idea.” The DOGE/USD coin is trading at $0.375575, and consolidating in the range between 0.368816 and 0.399588.

A day before, DOGE/USD closed at $0.400690, after placing a high of $0.428520, and a low of $0.381450. After rising for three consecutive days, Dogecoin saw some retracement, suffering minor losses on Thursday. According to a report published by the Wall Street Journal, the US Securities and Exchange Commission said that despite the rules of a court order, Tesla has allegedly repeatedly failed to pre-approve the tweets by Elon Musk.

This all started in 2018 when the SEC accused Elon Musk of misleading investors by making claims about taking Tesla private. After this, an agreement was made that required the lawyers of Tesla to pre-approve certain tweets. However, the report published by Wall Street two days ago suggested that the agency believes Musk and Tesla have broken the terms of that agreement. The SEC said that Musk’s two tweets regarding Tesla’s stock price being too high and the company’s solar roof production had violated the deal which was agreed to in 2018. Musk has about 56.3 million followers on Twitter and social media platforms. His tweets tend to wildly move prices of tradable assets, including cryptocurrencies, like Bitcoin and Dogecoin, and other listed companies like Samsung and Publishing. Musk has been an enthusiastic supporter of Dogecoin and has been tweeting in favor of the coin for the past several months, which has been driving DOGE prices up. However, such negative developments surrounding Tesla and Musk could harm the prices of Dogecoin, as he has also been famous as the “Dogefather.”

Meanwhile, the US Dollar Index, which measures the value of the greenback against a basket of six major currencies, rose to 90.5 on Thursday, providing support for the US dollar, and ultimately adding further to the losses in the Dogecoin prices, as the two currencies share a negative correlation. The dollar was high onboard, amid better-than-expected jobs and PMI data from the country.