ETHUSD (Ethereum) – Week 17 – Retesting the support area
The prospect that US President Joe Biden's administration would raise capital gains taxes sent shockwaves across the crypto sector, with Ethereum (ETH) falling on concerns that this proposal would curb investment in digital assets. Coinbase Pro announces support for Tether’s Ethereum-based USDT stablecoin.
According to a press release shared by CryptoSlate, Californian startup Hitch is working with South African artist Daniella Attfield to produce a one-of-a-kind non-fungible token (NFT) art piece that benefits the environment. “Mining cryptocurrency uses a lot of resources, while NFTs use a lot less— which is why using carbon credits for any art piece should be the rule, not the exception,” Hitch creator Sky Gilbar said in a statement.
Technically, we think ETH will continue its short-term downward path to reach the blue trendline market on the chart or the support area at $1900-$2000 USD. After that we have to read the market structure that it creates to anticipate the next move.
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.
According to a press release shared by CryptoSlate, Californian startup Hitch is working with South African artist Daniella Attfield to produce a one-of-a-kind non-fungible token (NFT) art piece that benefits the environment. “Mining cryptocurrency uses a lot of resources, while NFTs use a lot less— which is why using carbon credits for any art piece should be the rule, not the exception,” Hitch creator Sky Gilbar said in a statement.
Technically, we think ETH will continue its short-term downward path to reach the blue trendline market on the chart or the support area at $1900-$2000 USD. After that we have to read the market structure that it creates to anticipate the next move.
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.
