Crypto Industry News:
Mass vaccination programs against COVID-19 are becoming an increasing obstacle to many governments' pandemic management strategies. Consequently, blockchain companies are working to propose ways the technology can offer to solve some of the logistical difficulties.
Blockchain StaTwig has already tested its blockchain-based VaccineLedger solution in both India and the United States in 2019. In 2021, the company partnered with the Indian giant IT Tech Mahindra to implement the solution worldwide.
VaccineLedger focuses on improving the transparency of vaccine supply chains at the vial level with the aim of anticipating and preventing problems. These are i.a. Inventory Expiry, Counterfeiting, Quality Control and Availability. Just days after the failed attempt to swap vaccines between Israel and the UK, which resulted in the loss of 1 million Pfizer doses, the need for such a solution is more apparent than ever.
The StaTwig solution supports the integration of smart contracts and IoT technologies to detect expiring products as well as provide temperature control for sensitive units. Working with Tech Mahindra, StaTwig will use its resource scaling and system integration expertise to support your solution rollout worldwide.
In addition, the two companies have jointly developed several security modules for mobile and web applications designed to meet the requirements of manufacturers and governments.
Technical Market Outlook:
The ETH/USD pair has broken through the 61% Fibonacci retracement at the level of $2,228 and made a new local high at the level of $2,394. Recently, the market had bounced from the trend line support seen at the level of $2,170. The momentum is now strong and positive, so the next target for bulls is seen at the level of $2,453. On the other hand, any violation of the level of $2,043 will likely expose the level of $1,941 for a test again.
Weekly Pivot Points:
WR3 - $3,160
WR2 - $2,743
WR1 - $2,603
Weekly Pivot - $2,208
WS1 - $2,064
WS2 - $1,646
WS3 - $1,514
Trading Recommendations:
Ethereum has lost more than 50% of the recent gains from the lows of March 2020 and now is currently in the counter-trend corrective cycle. The next long-term target for bears is seen at the level of $1,728 (61% Fibonacci retracement of the last wave up) and $1,420 ( January 2018 swing high). The up trend is resumed when the level of min. $3,000 is clearly violated.
