Market Review. Results of the Day. 05/25/2018

May 26, 2018



Technical analysis

The cryptocurrency market continued to decline. Trading volumes also decreased. ETH is the leader of the growth (+1.6%), XRP is the leader of the fall (-3.3%).

BTC $7445.24. Resistance level is $7,750. Target level is $6,500.

ETH $588.16. Resistance level is $620. Target level is $440.

XRP $0.5997. Resistance level is $0.64. Target level is $0.50

EOS $11.989. Resistance level is $12.00. Target level is $9.

BCH $1,007.60. Resistance level is $1,080. Target level is $750.

BTC has been is a long-term falling trend for five months and lost 63%. However, the volatility of Bitcoin has been declining since February, and a reversal pattern is forming on the chart. Breaking through the pattern at the level of $9,000 opens the target for a further growth to $14,000. One can start buying at $6,000-7,000. The time markers are the next week for buying and the next two months for a growth.


News review

Eurasian Union is considering issuing its own cryptocurrency and use it for all domestic trading.

The operator of the Frankfurt Stock Exchange (FWB), Deutsche Boerse, is considering the possibility of starting offering cryptocurrency products to its customers. By the way, a German bank Commerzbank and a company ThyssenKrupp made a €500 thousand deal via blockchain. It allowed to reduce costs by several times.

The Monetary Authority of Singapore (MAS) issued a warning addressed to eight country's cryptocurrency exchanges, which requires them to stop trading tokens, that are considered securities and futures contracts by the legislation.

One London mosque started to accept donations on BTC a month after an Islamic scholar declared them halal, or permissible under Sharia Law.

Robert Shiller said that cryptocurrency is another failed currency experiment.

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