Crypto Industry News:
Visa, one of the largest payment processors in the world, recently posted several cryptocurrency-related job openings, indicating a growing interest in the digital asset space.
A company from the payments industry is looking for a Technical Product Manager for its cryptocurrency team, as well as a Senior Blockchain Engineer and Blockchain Developer. These roles suggest that Visa is looking at ways to grow its cryptocurrency offering, potentially by developing blockchain-based payment solutions.
This move by Visa comes as no surprise given the growing popularity and acceptance of cryptocurrencies around the world. Many enterprises, including financial institutions, are looking for ways to incorporate digital assets into their business model. In this way, they can remain competitive and meet the changing needs of their customers.
The company has already taken some steps in the crypto space before, including establishing partnerships with several cryptocurrency platforms. The company offers debit cards that allow users to spend their digital assets with traditional merchants. Additionally, Visa recently announced that it processed over $1 billion in crypto-related transactions in the first half of 2021.
Job listings suggest that Visa is not content to just offer debit cards and process transactions. It is also looking for new ways to use blockchain and cryptocurrencies to improve its existing products and services.
Technical Market Outlook:
The ETH/USD pair has bounced from the low seen at the level of $1,802 after the five wave impulsive decline had been terminated. The market is currently trading just below the short-term trend line resistance and breakout above this line is needed to continue the bounce towards one of the Fibonacci retracement levels. The volatility increased significantly as the intraday swings are more than 9%. The momentum is positive on the H4 time frame chart after a bounce from the extremely oversold levels, so there is a chance to continue the upwards movement towards 38% Fibonacci retracement seen at $1,931.
Weekly Pivot Points:
WR3 - $1,939
WR2 - $1,901
WR1 - $1,878
Weekly Pivot - $1,861
WS1 - $1,839
WS2 - $1,824
WS3 - $1,786
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.
