ETHUSD (Ethereum) – Week 23 – Continuation of the trend?

New York-based office developer firm KPG Funds now allows its tenants to pay their rent in Bitcoin and Ethereum, Commercial Observer reports. According to CEO Greg Kraut, the new payment option was introduced after numerous consumers indicated interest in it.

A SpaceX rocket is carrying an Ethereum node to the International Space Station for SpaceChain. SpaceChain provides blockchain custody services and argues that this initiative exemplifies blockchain technology's decentralization and resilience to censorship. Institutional clients will be granted access to the node in order to improve their security and safeguard their digital assets.

Technically, Ethereum is near the resistance area of $3k per ETH. Here we have 2 working scenarios for the short term. The first one that has a higher probability is a down move to continue the trend and reach at least the small support area marked on the chart. The second one is a push to the upside and touch the resistance area once again.

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.

Commentaire:

Higher probability scenario playing out, as per our analysis. Trade with care.