Crypto Industry News:
The NFT of Twitter founder Jack Dorsey's first tweet, which was paid for at $2.9 million, went back to auction for just... $2,000. The entrepreneur, who spent a huge sum on this digital artifact, hoped that its value would reach 48 million. Years later, it turns out that it was probably the worst investment of his life.
Sina Estavi, an Iranian-born crypto entrepreneur, has tried to sell this amazing NFT on OpenSea several times since the purchase. In the spring of 2022, the highest bid for the "Mona Lisa of the digital world" was only 2.2 ETH, which in terms of dollars was only $ 6,800. Compared to the original purchase, this is already a huge loss. But that was something compared to its real value today.
In April 2023, the attempted sale attracted media attention again. This time, however, the best offer on OpenSea was even lower - just 0.09 ETH, or $277. Reports say Estavi is trying to sell Dorsey's first tweet again. The highest bid at the moment is 1 ETH, or around $1,895. That's still "a bit" less than what Estavi bought this NFT for.
Technical Market Outlook:
The ETH/USD pair has been seen moving lower as the bearish pressure increase. The next target for bears is seen at the level of $1,827 which is the key short-term technical support level. Any violation of this level would open the road towards the next target located at $1,777. The weak and negative momentum on the H4 time frame chart supports the short-term bearish outlook for ETH.
Weekly Pivot Points:
WR3 - $1,927
WR2 - $1,899
WR1 - $1,883
Weekly Pivot - $1,872
WS1 - $1,856
WS2 - $1,844
WS3 - $1,817
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.
