Crypto Industry News:
The OpenSea platform decided to restore the CryptoPunks V1 trading ban and once again removed them from its offer. Thus, collectors who are considering purchasing these unusual NFTs based on the Ethereum blockchain can only use a different platform.
The CryptoPunk series can be safely described as one of the most popular and expensive NFT collections, which can be seen, among other things, by the prices achieved by individual tokens (Rare CryptoPunk sold at an auction at Sotheby's, Priceless NFT # 6046 from the CryptoPunks series). However, these are not tokens from the V1 collection, which OpenSea does not want and which even its creators have renounced.
However, if you look at the fact that LarvaLabs is responsible for the creation of the V1, and defective tokens reached users before those that are currently very popular among collectors, it is hard not to consider them original.
OpenSea does not want CryptoPunks V1 for two reasons: the first is an exploit that occurs in tokens in this series. The second reason is related to the alleged call to delete collections that the platform was supposed to receive from Larva Labs.
Technical Market Outlook
The ETH/USD pair has made a new local high at the level of $3,274 despite the extremely overbought market conditions. The market keeps making a new local highs and the next target for bulls is seen at the level of $3,285.This is where 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.
