Crypto Industry News:
Ultimate Fighting Championship (UFC) fighters will receive bonuses, the so-called "Fan bonus" in BTC thanks to the organization's partnership with the cryptocurrency exchange.
The bonus will be paid to the top three fighters of the galas broadcast on PPV by the official UFC partner. There will be a total of three Bitcoin Bonuses ranging from $ 10,000 to $ 30,000 available that night. Fans from all over the world can vote for BTC bonuses on the official website of the exchange on the day of the event.
The first bonus will be introduced during the upcoming UFC 273 event: Volkanovski vs The Korean Zombie. The Bitcoin Bonus will be in addition to the traditional Fight of the Night and Performance Bonuses given to UFC fighters.
UFC President Dana White praised the partnership, saying:
"This new Fan Bonus of the Night is an amazing way to get fans involved in our events while rewarding warriors for lousy performances."
Sports and cryptocurrencies have shown one of the best synergies in the last few years, with several major sports companies and events partnering with emerging crypto technology.
UFC fighters have also opted for crypto payouts instead of fiat payouts. The MMA organization also bet on the NFT, where the company launched its first official non-removable token in November last year.
In addition to the UFC, other major sports organizations such as Formula 1, the National Basketball Association, and several professional soccer clubs around the world have added crypto companies as their main partners in the past few years.
Technical Market Outlook:
The ETH/USD pair retraced 38% of the last wave up and hit the level of $3,146 recently. The bulls are trying to bounce higher, the nearest technical resistance is located at the level of $3,287 and $3,385. On the other hand, the key technical support is seen just above the 50% Fibonacci retracemnt at $3,045, so as long as the market trades above this level, the short-term outlook remains bullish.
Weekly Pivot Points:
WR3 - $3,968
WR2 - $3,746
WR1 - $3,642
Weekly Pivot - $3,423
WS1 - $3,335
WS2 - $3,113
WS3 - $3,000
Trading Outlook:
The market has broken above the level of $3,192 which was the key Fibonacci retracement for bulls. The bulls re now in control of the market and are heading towards the 50% Fibonacci retracement on the weekly time frame chart located at $3,512.