Trading Conditions
Products
Tools
Crypto Industry News:
Despite the slowdown in the cryptocurrency market, VC companies (venture capital - venture capital investing mostly in startups) have not lost interest in the sector and continue to invest in crypto projects. According to a report from Wu Blockchain in June 2022, VCs invested approximately $ 3.67 billion in crypto startups.
A report citing data from Dove Metrics revealed that the figure was up 60% year-on-year and was down 18% compared to the previous month in May.
According to the data, there were 191 investment projects opened by VC in June, 15% less than in May, when 225 rounds were held. However, this number increased by 42.5% compared to June 2021, which saw around 134 funding rounds.
The crypto projects that raised funds from VC last month span a variety of industry sectors including CeFi, DeFi, NFT, Web3, and blockchain infrastructure. The report found that CeFi firms raised the largest share of the month's funding as they sought a solution to their liquidity problems.
Technical Market Outlook:
The ETH/USD pair has retraced 61% of the last wave down, hit the level of $1,171 and then the bounce was capped. The technical supports are seen on the levels of $1,114 and $1,086. The larger time frame chart trend remains down and as long as the key short-term technical resistance, located at the level of $1,280, is not clearly violated, the outlook remains bearish.
Weekly Pivot Points:
WR3 - $1,452
WR2 - $1,340
WR1 - $1,207
Weekly Pivot - $1,098
WS1 - $957
WS2 - $839
WS3 - $701
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 $1,420 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 levels below $1,000, like the last swing low seen at $880. Please notice, the down trend is being continued for the 11th consecutive week now.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.