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Crypto Industry News:
Visa and Tala have joined forces "to help emerging markets adapt to the crypto economy," Tala announced Wednesday.
Tala is "a financial technology company with a mission to enable and accelerate financial health for everyone," reads its website. The company's Android app offers instant credit and personalized financial education, the company noted, adding that it has provided over $ 2 billion in loan to over 6 million customers in Mexico, the Philippines, Kenya and India.
Circle and the Stellar Development Foundation have also joined the project and will benefit from the digital currency ecosystem in emerging markets, the announcement said.
"Tala will explore options to make it easier for consumers to store and use cryptocurrencies, starting with USDC, a stablecoin managed by the Center Consortium," the company added.
The company explained that by integrating Tal with Circle and Stellar, its customers will have access to USDC in Tala's digital wallet, allowing for safe and stable money storage, fast and inexpensive cross-border transfers, and easy exchange for other digital assets or local fiat.
Moreover, Tali's partnership with Visa will enable it to offer Visa cards linked to Tali's digital wallet. This will allow customers to spend funds without problems.
Technical Market Outlook:
The ETH/USD pair has made another marginal all time high at the level of $3,590, but the rally from the level of $2,955 has ended with a Bearish Engulfing candlestick pattern again, which might indicate a potential pull-back or even a correction. Please notice the WR2 is located at $3,563 and WR3 at the level of $4,152 (targets for bulls). The immediate technical support is located at the level of $3,184, but if this level is violated, then the next technical support is seen at $2,955. The momentum is strong and positive, but the market conditions are now extremely overbought, so a correction is welcome. The next target for bulls is seen at the level of $4,000.
Weekly Pivot Points:
WR3 - $4,152
WR2 - $3,563
WR1 - $3,343
Weekly Pivot - $2,736
WS1 - $2,538
WS2 - $1,587
WS3 - $1,750
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 $4,000. The key long term technical support is seen at the level of $2,550, so only a weekly candle close below this level will invalidate the bullish scenario.
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