The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Crypto Industry News:
Ferrari accepts cryptocurrency payments for its luxury sports cars in the United States. The carmaker also plans to accept cryptocurrency payments in Europe.
Enrico Galliera, Ferrari's chief marketing and commercial officer, confirmed the luxury car brand's intentions. Ferrari's choice to accept cryptocurrency payments was driven by market demand and dealer requests. Many clients, including young investors interested in cryptocurrencies, have invested in digital currencies.
While Galliera did not specify how many cars Ferrari expects to sell via cryptocurrency payments, it reportedly stated that the automaker's order book is already fully full by 2025. Ferrari aims to test this emerging market to connect with potential buyers beyond its usual customer base. The luxury manufacturer plans to introduce cryptocurrency payments in Europe by the first quarter of 2024 and expand to other cryptocurrency-friendly regions.
According to reports, in its initial phase in the United States, Ferrari has partnered with large cryptocurrency payment processor, BitPay. This collaboration enables transactions in Bitcoin, Ethereum and USD Coin.
Technical Market Outlook:
The ETH/USD pair had spiked up from the yearly low located at the level of $1,520 and hit the level of $1,640, which is just above the 50% Fibonacci retracement of the last wave down. The spike up was quickly faded, so this is another indication of how strong the bearish pressure is. The intraday technical resistance is seen at $1,640 and the intraday technical support is seen at $1,573. The momentum is strong and positive, but it starts to reverse as well.
Weekly Pivot Points:
WR3 - $1,663
WR2 - $1,601
WR1 - $1,589
Weekly Pivot - $1,569
WS1 - $1,557
WS2 - $1,537
WS3 - $1,506
Trading Outlook:
The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. This is the key level for bulls, so it needs to be broken in order to continue the up trend. The key technical support is seen at $1,368, so as long as the market trades above this level, the outlook remains bullish.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
