Market review, April 30, 2020

2020-30-04 12:01:07

The Capital Market and Technology Association (CMTA) has issued common industry standards for companies providing custody services for digital assets.

CMTA Secretary-General Fedor Poskriakov said that the document was the first step of the Swiss financial industry towards defining common standards for the storage and management of digital assets.

“This will greatly aid the development of fully digital market infrastructure, including integrated storage services and secondary trading platforms. The benefits of digitizing the financial industry are such that the transition to a decentralized infrastructure seems inevitable to me,” he said.

The document stresses that the storage of digital currencies differs from the storage of traditional assets, which are usually stored in centralized systems without the use of cryptography. Storage of cryptocurrencies requires assurances that the decentralized infrastructure is well-designed and free from loss, theft, and hacking.

Technical analysis of Bitcoin (BTC):

Over the past day, the price of bitcoin grew significantly to the resistance level of $9,450. Then it fell to the support level of $8,500. Now, the price of bitcoin is $9,000. In the future, we predict the continuation of the positive movement. The nearest resistance levels are $9,000, $9,450, $10,000. The nearest support levels are $8,600, $8,150, $7,900, $7,600, $7,500.

Technical analysis of Ethereum (ETH):

Over the past day, the price of ethereum grew to the resistance level of $226. Then it fell to the support level of $200. Now, the price of ethereum is $212. In the future, we predict the continuation of the positive movement. The nearest resistance levels are $215, $225, $245. The nearest support levels are $210, $208, $205, $198, $193, $189, $186, $183, $178, $174, $169, $166, $157, $161.

Technical analysis of Ripple (XRP):


Over the past day, the price of ripple grew to the resistance level of $0.2350. Then it fell to the support level of $0.21. Now, the price of ripple is $0.22. In the future, we expect the continuation of the positive movement. The nearest resistance levels are $0.22, $0.23, and $0.2350. The nearest support levels are $0.2150, $0.21, $0.2050, $0.19, $0.1820.

Posted: 30.04.2020 | Alex Feldman
Disclaimer. This review is only for information purposes and cannot be considered as a proposal or an indication to perform certain transactions in the financial and commodity markets. The estimates and recommendations in the review are the personal opinion of the company's analysts. The company's view on the prospects for individual financial instruments is valid as of the date of the report. The Company does not assume any liability and liabilities for compensation for damage that may result from the use of this report.
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