Crypto Industry News:
The Google Cybersecurity Action Team has created a threat detection service to protect misconfigured accounts that attackers use to mine cryptocurrencies.
Google Cloud has announced the release of Virtual Machine Threat Detection (VMTD) in its Security Command Center area. Google Cloud Computing Engine Scan Tool, VMTD, successfully detects threats including cryptocurrency mining malware used in virtual machines.
Cryptocurrency mining malware attacks, sometimes referred to as 'cryptojacking', are an ongoing nuisance in the industry. While the activity of browser-based cryptocurrency increased during the 2019 bear market, mining cryptocurrency in the cloud continues to be a nuisance.
According to reports from last year, of the 50 analyzed incidents related to hacked Google Cloud Protocols protocols, 86% were related to cryptocurrency mining. Google's "Threat Horizons" report emphasizes that hackers may try to hijack GPU space in order to mine cryptocurrencies.
After receiving the data, the Google Cybersecurity Action Team tried to remedy the situation by creating better security for the users of their virtual machines.
The result is a program that provides automatic memory scans to help detect threats such as cryptocurrency mining malware. In addition to providing protection against malicious mining, VMTD also protects users from data theft and ransomware.
Technical Market Outlook
The ETH/USD pair has made a new local high above the $3,000 level at $3,225 (at the time of writing the article) as the up move continues inside of the ascending channel. The next target for bulls is seen at the level of $3,279, but the game changing level (market sentiment changer) is located between $3,385 - $3,438. The bulls are in control of the market on the lower time frames as the momentum is strong and positive on the daily time frame chart and the market is bouncing from the extremely oversold conditions. The nearest technical support is seen at $3,046 and $2,930.
Weekly Pivot Points:
WR3 - $3,873
WR2 - $3,464
WR1 - $3,288
Weekly Pivot - $2,862
WS1 - $2,704
WS2 - $2,297
WS3 - $2,119
Trading Outlook:
The market is bouncing after over the 50% retracement made since the ATH at the level of $4,868 was made. The level of $3,436 is the next key technical resistance for bulls. On the other hand, the next long-term technical support is located at $1,721 (61% Fibonacci retracement of the last big impulsive wave up) is still the key long-term retracement level for bulls.
