Crypto Industry News

One of the largest auction houses, Christie's, will sell a collection of nine CryptoPunks next month - widely regarded as the first non-convertible (NFT) token projects issued on the Ethereum blockchain.

According to this announcement, the auction house will auction a sample of the popular NFT design during the 21st Century Night Sale in New York on May 13. Importantly, the makers of CryptoPunk, Matt Hall and John Watkinson, sell nine CryptoPunks from their own collections.

"Overall, the kit presents both the rarest of possible CryptoPunks and highlights the variety of attributes that are the signature of the project," said Hall and Watkinson in a statement released by the auction house.

As with one of the last record NFT Beeple auctions, Christie's will accept offers and payments in the form of ETH, Ethereum's native cryptocurrency.

"CryptoPunk is the alpha and omega of the CyptoArt movement," art specialist Christie Noah Davis said in a statement. "It's a historic sale."

Released in June 2017 by Larva Labs, the CryptoPunk Collection includes a collection of images in the form of sets of 8-bit pixels. There are a total of 10,000 unique characters to collect. Each character's proof of ownership is contracted on the Ethereum blockchain. Each of the unique characters has different unique features and accessories, and some of these NFTs are considered rarer than others.

Technical Market Outlook:

The ETH/USD pair has made a new all time high at the level of $2,197 and keeps going up. The next target for bulls is seen at the level of $2,500. The momentum is strong and positive, so the up trend might be continued with occasional pull-backs. The larger time frame trend is up as well and there is no indication of the up trend termination. The immediate technical support is located at the level of $2,149 and $2,084.

Weekly Pivot Points:

WR3 - $2,536

WR2 - $2,369

WR1 - $2,274

Weekly Pivot - $2,100

WS1 - $2,008

WS2 - $1,819

WS3 - $1,739

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 $2,500. The key long term technical support is seen at the level of $1,412, so only a weekly candle close below this level will invalidate the bullish scenario.