Crypto Industry News:
The British car maker Jaguar Land Rover will use the IOTA Blockchain network to reward cryptocurrency drivers for sharing data, confirmed the company in a press release.
As part of a plan to gather better information on road conditions and vehicle performance, Jaguar will distribute IOTA Tokens for smart wallets related to the drivers participating in the program. Drivers will be able to exchange them for various products, including road tolls and even coffee, says Jaguar.
Cooperation with IOTA is part of the Jaguar program called Destination Zero, which aims to fight accidents, congestion, and emissions in the automotive industry.
Technical Market Overview:
The next target for bulls at the ETH/USD market is seen at the level of 61% Fibonacci which is 166.17 and this is where the corrective cycle in wave (1)/(a) might terminate. But the bulls have a problem to break through this level anyway and the second attempt to test the level of 166.17 has failed at 165.46, so the 61% Fibo might never be tested in this move. There is still a chance for the current corrective cycle in a wave 2 of a higher degree to evolve into the more complex and time-consuming cycle, so please bear this in mind.
Weekly Pivots:
WR3 - 204.74
WR2 - 190.50
WR1 - 176.25
Weekly Pivot: 160.51
WS1 - 146.54
WS2 - 132.16
WS3 - 116.96
Trading recommendations:
The 50% Fibonacci retracement is a good level to open the sell order. The room for manipulation or averaging is up to the level of 61%, but above this level, the bearish setup is invalidated. The longer-term outlook remains bullish, but the corrective cycle is now getting quite extended in time and price.
