Crypto Industry News:
International payment processing giant Mastercard is expanding its payment network to the NFT and Web3 token markets.
The financial services provider announced it has been working over the past year to expand its payment networks to NFT. The company has partnered with many of the leading NFT markets to allow 2.9 billion cardholders to purchase NFT directly without purchasing cryptocurrencies first.
Currently, users must first purchase cryptocurrencies to bid and buy NFT. However, thanks to the latest Mastercard partnership, billions of cardholders can now bypass the cryptocurrency buying process.
These integrations are designed to increase the availability of cryptocurrencies and help the NFT ecosystem continue to grow, innovate and attract more fans.
Mastercard has stated that it works with multiple NFT markets, namely Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway and Web3 infrastructure provider MoonPay.
Technical Market Outlook:
The ETH/USD pair has broken below the technical support during the weekend and made a new swing low at the level of $1,316 (at the time of writing the analysis). The market is under the bearish pressure and the next target for bears is seen at the level of $1,233. The nearest technical resistance is located at $1,435, but in order to change the sentiment to more bullish, the market must break through the level of $1,729 again.
Weekly Pivot Points:
WR3 - $2,216
WR2 - $2,047
WR1 - $1,722
Weekly Pivot - $1,562
WS1 - $1,222
WS2 - $1,054
WS3 - $747
Trading Outlook:
The down trend on the H4, Daily and Weekly time frames had broken below the key long term technical support seen at the level of $1,729 and bears continue to make new lower lows with no problem whatsoever. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,233.