I have been talking for quite some that that the pipelines from Wall Street to the Crypto space is being built. I have been talking for quite some time that the Smart Money is gear up to put $2 trillion to work in the Crypto space. Here is yet another example of the Smart Money coming to a Crypto near you.
Stock exchange operator Nasdaq is adding indices for bitcoin and ethereum to its global data service later this month. The company announced Monday that it has partnered with New Zealand-based blockchain data and research firm Brave New Coin to offer information on the two new indices starting Feb. 25.
The Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX) will offer “real-time” information on the Nasdaq Global Index Data ServiceSM (GIDS), its consolidated data feed, Nasdaq said.
Nasdaq has been very active in the crypto and blockchain space, including investors in industry startups. Last month, the firm led a $20 million Series-B funding round of enterprise blockchain startup Symbiont.
Back in November, it was revealed that Nasdaq has partnered with investment management firm VanEck to “bring a regulated crypto 2.0 futures-type contract” to the market in 2019, though no additional details have been revealed since then.
So what can we expect from Ethereum prices in the short term, lets go to the charts to find out?
Weekly Chart (Curve Timeframe) – weekly demand is at $82 and monthly supply is at $287.
Ddaily Chart (Trend Timeframe) – the trend is down with a daily supply at $184.
4 hr Chart (Entry) – the chart suggests to go long when price hits the 4 hr demand at $97 and/or go short at the daily supply at $184.
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.