Market review, September 30, 2019

5
2019-09-30 13:00:35

IOHK CEO, Charles Hoskinson, announced a partnership with the New Balance brand, through which the authenticity of products can be tracked through the Cardano blockchain.

Hoskinson said that Cardano and New Balance will launch a global program to verify the brand's clothing and footwear. That is, any pair of sneakers can be tracked using the blockchain. At the same time, ADA tokens are not planned to be used.

Earlier, universities in Switzerland and Malaysia announced the use of blockchain to authenticate certificates of higher education. Moreover, Malaysia has launched a national diploma authentication program.

In addition, Penfolds, an Australian winery, uses the VeChain blockchain platform to verify the origin of the wine, while William Gran & Sons uses the blockchain to track the whiskey supply chain.

Technical analysis of Bitcoin (BTC):

Over the past weekend, the price of bitcoin fell to the support level of $7,600. This movement fully coincided with our forecast. After such a collapse, the price of bitcoin turned around and rebounded. Now, it is $8,025. We assume that the price of bitcoin will try to break through the support level of $7,500. The nearest resistance levels are $8,140, $8,300, $8,400. The nearest support levels are $7,900, $7,500.

Technical analysis of Ethereum (ETH):

Over the past weekend, the price of ethereum fell to the support level of $163. This movement fully coincided with our forecast. After such a decline, the price of ethereum turned around and rebounded upwards. Now, it is $172. We wait for a further downward movement to the support level of $150. The nearest resistance levels are $173, $181. The nearest support levels are $168, $165.

Technical analysis of Ripple (XRP):

Over the past weekend, ripple was in the flat, then it rose sharply to the mark of $0.2580. This movement fully coincided with our forecast. Now, the price of ripple is $0.2547. We expect a decrease. The nearest resistance levels are $0.2560, $0.2580. The nearest support levels are $0.2520, $0.2560.

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.
Something went wrong
Message: