Crypto Industry News:
The American company RMS Titanic Inc (RMST) has announced that it will convert artifacts found on the famous ocean liner into NFT. This is a step taken by the company responsible for the search for missing items after establishing cooperation with two Hong Kong companies.
The company responsible for salvaging items from the ship that sank in 1912 indicated in a statement that the collection of non-fungible tokens will consist of more than 5,500 physical artifacts that will be preserved digitally. Thanks to this technology, the exclusivity and authenticity of the items sold can be ensured. In addition, the creation of this collection will mark the appearance of the first Titanic collection in Web 3.
"As custodians of the wreck of the Titanic, we are determined to ensure that its artifacts are preserved forever and made available for future generations. We believe that entering the digital space will allow us to reach a wider audience with high-quality programming that educates and inspires," said RMS Titanic CEO Jessica Sanders.
It was also announced that VSFG will take care of the transformation of real elements into digital. In turn, Artifact Labs will be responsible for launching a Decentralized Autonomous Organization (being an algorithm-based association) focused on a luxury shipwreck. This will make it possible to organize diving trips and other activities, such as the development of educational programs.
Technical Market Outlook:
The Ethereum market has bounced from a local low seen at the level of $1,596 and is trading back above 100 MA around the level of $1,652. The weak momentum on the H4 time frame chart supports the short-term bearish outlook for ETH. The intraday technical resistance is seen at the level of $1,677 and $1,680 (50 DMA). Sustained breakout below the level of $1,487 would change the mid-term outlook to bearish, so please keep an eye on the $1,487 technical support. Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly.
Weekly Pivot Points:
WR3 - $1,774
WR2 - $1,726
WR1 - $1,709
Weekly Pivot - $1,678
WS1 - $1,661
WS2 - $1,630
WS3 - $1,581
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. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.
