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Crypto Industry News:
Another meeting of cryptocurrency and Blockchain specialists has been postponed due to the ongoing global coronavirus crisis.
TEAMZ Blockchain Summit - the largest Blockchain conference in Japan - was to take place from April 22 to 23, but was moved to September 28.
"TEAMZ closely monitors the global development of coronavirus. TEAMZ is deeply concerned about the security of conference participants, including speakers, participants, partners and sponsors," the organizers said in an official statement.
The place, schedule and configuration of the summit will remain the same, according to the Coinspeaker report. Blockchain Summit invites over 2,000 visitors from around the world, including those implementing Blockchain, industry experts, venture capital investors and educators.
Among the confirmed speakers were Bitcoin.com president Roger Ver, founding partner of Primitive Ventures, Dovey Wan, and investor and billionaire Tim Draper.
Technical Market Overview:
The bears are still in full control over the ETH/USD market and the pair keeps trading inside of the narrow horizontal range. The bulls, however, had managed to push the price back into the descending channel, but the technical resistance located at the level of $134.12 was too strong for the breakout. Currently, the market is trading around the level of $116, way below the level of $124.00 which is short-term technical resistance. The technical support is located at the level of $100.00. The last low was made at the level of $89.01 and might be soon visited again.
Weekly Pivot Points:
WR3 - $312.98
WR2 - $261.92
WR1 - $190.92
Weekly Pivot - $137.43
WS1 - $68.38
WS2 - $14.40
WS3 - $1
Trading Recommendations:
All the Elliott Wave based impulsive wave scenarios have been invalidated due to the important levels violation. The fear of the coronavirus consequences is too strong to traders and it rules on the financial markets, so it is better to stay away from the trading platform until the dust settles. Trade safe.
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