Crypto Industry News
Grayscale has partnered with the acclaimed New York-based Time magazine to jointly create an educational video series on crypto assets.
The partnership was announced in April by Grayscale CEO Michael Sonnenshein, who revealed that Time and its CEO, Keith Grossman, would receive a payment in Bitcoin.
Moreover, Time has no intention of converting the Bitcoins it receives as part of the transaction to fiat and will keep the crypto assets on its balance sheet. So far, no further details of the partnership have been released.
First published on March 3, 1923, Time and its online version have recently been active in the crypto space. In March, Time was making money on the NFT mania by releasing a set of tokenized magazine covers on the NFT Marketplace SuperRare, with the non-functional "TIME Space Exploration - Jan 19, 1959" token, downloading 135 Ethereum worth nearly $ 250,000 on March 30.
The company also revealed in the same month that it is looking for a cryptocurrency-friendly chief financial officer after placing a position on LinkedIn.
"The media industry is evolving rapidly. Time is looking for a CFO to help guide its transformation," it wrote.
Technical Market Outlook:
The ETH/USD pair has made a new all time high at the level of $2,398 (at the time of writing the article). The next target for bulls is seen at the level of $2,500. The momentum is strong and positive, so the up trend might be continued with occasional pull-backs. The larger time frame trend is up as well and there is no indication of the up trend termination. The immediate technical support is located at the level of $2,314 and $2,201.
Weekly Pivot Points:
WR3 - $2,536
WR2 - $2,369
WR1 - $2,274
Weekly Pivot - $2,100
WS1 - $2,008
WS2 - $1,819
WS3 - $1,739
Trading Recommendations:
The longer term up trend on the Ethereum continues despite the local counter-trend corrections. When the correction is terminated, the next long term target for ETH/USD is seen at the level of $2,500. The key long term technical support is seen at the level of $1,412, so only a weekly candle close below this level will invalidate the bullish scenario.
