Crypto Industry News:

Joseph Muscat, Prime Minister of Malta, announced on Sunday that every tenancy agreement in Malta will be registered in Blockchain. The announcement took place during an interview at the local radio.

The Prime Minister said that the reformed lease provisions were approved by the government after a long consultation period.

This initiative provides security, prevents data interference and ensures that only authorized persons have access to the records, Muscat said. In addition, DLT technology prevents the possibility of contracts for which there is no record.

Malta - also known as the "Blockchain Island" - entered the cryptocurrency world for the first time in July 2018, when it introduced a loose regulatory framework beneficial to DLT technology. Electronic money, financial instruments, virtual tokens, and virtual financial assets have received the path to legality.

The tolerant regulatory environment, educated workforce and EU membership contribute to the fact that Malta is becoming a growing center of Blockchain experiments.

Technical Overview:

The ETH/USD pair has bounced strongly after the recent spike down occurred, but the move upwards was made on a clearly lower volume and momentum. This kind of aggressive and dynamic volatility is nothing new on the crypto market, so it does not mean the trend will reverse now, but there is a possibility of a top for the wave (b) of the Irregular Flat correction to be made final. However, if the market will make another higher high the count will be invalidated. The main technical support is seen at the level of $288.61.

Weekly Pivot Points:

WR3 - $399.14

WR2 - $359.00

WR1 - $340.76

Weekly Pivot - $299.53

WS1 - $285.30

WS2 - $243.70

WS3 - $227.28

Trading Recommendations:

The best strategy in the current market conditions is to trade with the larger timeframe trend, which is still up. All the shorter timeframe moves are being treated as a correction inside of the uptrend. The current cycle is wave 4, which is a corrective wave and after is completed, the uptrend should resume.