ETHUSD (Ethereum) – Week 33 – Retesting the support?
From the outside, Chicago's imnotArt appears to be just like any other little art gallery, but once inside, you'll notice a significant difference. Instead of motionless paintings or prints, the walls are covered with screens that display dramatic, animated artwork, ranging from Sinclair's twitchy single-line compositions to ProbCause's creature-esque fusion of renowned metropolitan vistas. The entire gallery has also been recreated in a video game-like metaverse world, displayed on the back wall with a video feed pumping live footage from the physical gallery into the game space. Every piece of artwork in the gallery is an NFT minted on Ethereum, and you can buy the single-edition piece for your own collection.
An hour after Turkish sports team Fenerbahçe launched its Ethereum-based fan token today, the token surged by 433%, despite crashing the only centralized exchange that lists it, Paribu. According to the token’s whitepaper, Fenerbahçe Token holders can vote on minor club decisions, like naming facilities, and snag priority access to match sales. Since FB’s an ERC-20 token, its price is subject to the whims of the market, just like any other cryptocurrency.
From a technical perspective, Ethereum broke the last resistance area marked on the chart in last week’s report, retested it and then continued to the upside, as forecasted. For this week we see a continuation to the upside, with or without a consolidation before the price movement. There is a possibility for a sharp pullback, however it remains low in our opinion.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
An hour after Turkish sports team Fenerbahçe launched its Ethereum-based fan token today, the token surged by 433%, despite crashing the only centralized exchange that lists it, Paribu. According to the token’s whitepaper, Fenerbahçe Token holders can vote on minor club decisions, like naming facilities, and snag priority access to match sales. Since FB’s an ERC-20 token, its price is subject to the whims of the market, just like any other cryptocurrency.
From a technical perspective, Ethereum broke the last resistance area marked on the chart in last week’s report, retested it and then continued to the upside, as forecasted. For this week we see a continuation to the upside, with or without a consolidation before the price movement. There is a possibility for a sharp pullback, however it remains low in our opinion.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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