Market Review. Results of the Day. 05/08/2018

May 8, 2018


BTC $9220.10

ETH $746.18

XRP $0.8079

BCH $1590.42

LTC $159.45

EOS $18.15


Technical analysis

Main cryptocurrencies have continued to correct today. ETH and EOS performed better that the rest of the market, added 2.6% and 1.2% respectively.

The correction of the growth is going on in the flat, which indicates the strength of the trend.

XRP and BTC were worse than the market. If the trend continues upwards, we should buy strong currencies, if the trend continues downwards, we should sell weak currencies.

BTC support level is $9,000, resistance level is $9,750.

ETH support level is $680, resistance level is $800.

XRP support level is $0.80, resistance level is $0.95.

EOS support level is $17.00, resistance level is $19.25.


News review

Federal Reserve Bank of San Francisco conducted a survey, which revealed that the launch of bitcoin futures in December 2017 was the key factor of BTC price crash.

Stock Exchange of Thailand launched its own blockchain platform to help startups with funding.

The Thai Stock Exchange launched a blockbuster platform to help start-ups.

A group lawsuit has been filed against Ripple Labs. Plaintiffs accuse the company of violating securities legislation, claiming that Ripple Labs raised about $100 million by selling unregistered XRP tokens.

Formula-1 team Williams Martini Racing entered a partnership with a blockchain startup Omnitude.

Bill Gates criticized Bitcoin, said that the cryptocurrency is a “'greater fool theory' type of investment” and added, that the would short BTC if he knew an easy way to do it.

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