Crypto Industry News:
Swiss SEBA Bank announced the introduction of the ETH staking service for institutional clients. This will happen exactly when Ethereum's transition to the Proof-of-Stake consensus model is achieved. The bank today published a press release in which it informs that this move is a response to institutional demand. They show interest in such services as cryptocurrency staking and DeFi.
The bank's platform to manage staking options will give its users the ability to use a variety of protocols, including Ethereum, Polkadot and Tezos. In the future, the Swiss company intends to launch similar services for additional protocols. Commenting on the growing demand from their customers for this type of service and the upcoming the Merge, director of technology and customer solutions at SEBA Bank, Mathias Schutz said:
"The Merge Ethereum is an anticipated and significant milestone for the world's second largest cryptocurrency, providing users with improvements in the areas of security, scalability and sustainability. Launching our Ethereum staking services will enable institutional investors to play a key role in securing the future of the network through a trusted, trusted, secure network. a safe and fully regulated counterparty ".
SEBA Bank is a cryptocurrency financial institution that is fully regulated by government institutions. It offers a wide range of solutions, including trade and credit services. By directing its activities towards Ethereum, the bank counts on acquiring new institutional clients who want to help secure the network.
Technical Market Outlook:
The ETH/USD pair has been seen trading at the level of $1,720, which is abive the 100 DMA already. The next target for bulls is seen at the level of $1.722 (technical resistance), $1,785 and $1,819. The nearest technical support is located at the level of $1,513 and $1,654. The momentum is strong and positive again on the H4 time frame chart, so the short-term outlook for ETH remains bullish.
Weekly Pivot Points:
WR3 - $1,624
WR2 - $1,598
WR1 - $1,581
Weekly Pivot - $1,572
WS1 - $1,555
WS2 - $1,546
WS3 - $1,520
Trading Outlook:
The Ethereum market has been doing the lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.9