Crypto Industry Outlook:
It seems New York City Mayor-elect Eric Adams is reinforcing his pro-crypto stance, arguing that schools should incorporate cryptocurrency science into their curricula.
During a TV interview, Adams described cryptocurrency as "a new way to pay for goods and services around the world," urging local schools to equip students with the "new mindset" introduced by blockchain and digital resources.
"We have to open our schools to teach technology, to teach this new way of thinking" he said.
Adams also noted anecdotally surprisingly low cryptocurrency awareness among his young voters.
"When I was talking about blockchain and Bitcoin, young people in the street stopped and asked: What is this?" - said the 61-year-old.
He also pointed out plans to encourage New York City companies to accept Bitcoin and other cryptocurrencies as a form of payment, saying he would be "careful" and "do it right." The Mayor-elect added that New York City must remain "the center of innovation, no matter what the innovation is."
Adams's comments received mixed reactions from the crypto community on social media.
Technical Market Outlook
The ETH/USD pair continue the impulsive wave to the upside. Bulls passed the 100% market geometry level seen at $4,716, made a new ATH at the level of $4,840, and are approaching 127% Fibonacci projection located at the level of $4,873. The momentum is strong and positive, which supports the short-term bullish outlook for ETH. The nearest technical support is seen at the level of $4,670 and $4,767.
Weekly Pivot Points:
WR3 - $5,386
WR2 - $5,022
WR1 - $4,864
Weekly Pivot - $4,516
WS1 - $4,398
WS2 - $3,977
WS3 - $3,841
Trading Outlook:
The next long-term target for ETH is seen at the level of $5,000. Nevertheless, in order to continue the long-term up trend, the price can not close below the technical support at the level of $2,906. The level of $1,728 (61% Fibonacci retracement of the last big impulsive wave up) is still the key long-term technical support for bulls. The level of $3,677 is the key mid-term technical support for bulls.