Market review, October 28, 2019

2019-28-10 12:15:56

The founder of the cryptocurrency project Tron said that this week, the project would conclude a partnership agreement with the “megacorporation”, the capitalization of which exceeds $100 billion.

On Twitter, Justin Sun called on community members to guess the new partner of Tron. According to him, this “megacorporation” will allow billions of customers to access decentralized applications based on the Tron blockchain.

“It will not only benefit TRX but all TRC10&20 tokens, including BTT & WIN,” said Sun.

Users of the social network suggested that the South Korean manufacturer of household appliances and electronics Samsung is perfect for this description. Also, Sun previously reported that he was invited to speak at the Samsung Developers Conference, which is held on October 29-30.

Technical analysis of Bitcoin (BTC):

Market review, October 28, 2019

Over the past weekend, the price of bitcoin rose sharply to the resistance level of $10,400. This price movement coincided with our forecast. After such rapid growth, there was a technical correction downwards. Now, the price of bitcoin is $9,300. In the future, we expect the continuation of the downward movement to the support level of $8,500. The nearest resistance levels are $9,570, $9,700. The nearest support levels are $8,700, $8,500.

Technical analysis of Ethereum (ETH):

Market review, October 28, 2019

Over the past weekend, the price of ethereum rose sharply to the resistance level of $197. This price movement coincided with our forecast. After such rapid growth, there was a technical correction downwards. Now, the price of ethereum is $185. In the future, we expect the continuation of the downward movement to the support level of $173. The nearest resistance levels are $185, $192. The nearest support levels are $181, $178, $173.

Technical analysis of Ripple (XRP):

Market review, October 28, 2019

Over the past weekend, the price of ripple rose to the support level of $0.3140. This price movement coincided with our forecast. After such rapid growth, there was a technical correction downwards. Now, the price of ripple is $0.2970. In the future, we expect the continuation of the negative movement to the support level of $0.29. The nearest resistance levels are $0.2990, $0.3140. The nearest support levels are $0.2940, $0.2910, $0.2840.

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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