Market review, June 23, 2020

2020-23-06 07:14:54

Payment system PayPal and its mobile payment service Venmo will provide users with an option to buy/sell cryptocurrencies within three months, Coin Desk reports.

One of the publication’s interlocutors pointed out that the built-in functionality will allow buying, selling, and storing cryptocurrencies. He expects PayPal to provide liquidity through cooperation with Bitcoin exchanges.

Coinbase and Bitstamp may be potential partners. Users in the US and EU can withdraw funds to their PayPal account. Coinbase and PayPal were also members of the Libra Association before the payment system was released. At that time, the company’s management emphasized that it would be better to direct resources to its developments to make finances more accessible.

Another interlocutor is waiting for the launch in the next three months, although it is not clear how many cryptocurrencies the services will support.

The user base of PayPal and Venmo exceeds 325 million people.

Let us recall that in January 2018, the head of PayPal Dan Schulman said that bitcoin was not an effective way to transfer value. At the same time, he flatteringly spoke about blockchain technology.

Technical analysis of Bitcoin (BTC):

Market review, June 23, 2020

Over the past day, the price of bitcoin reached the mark of $9,800. Now, it is $9,600. In the future, we predict a correction in the price of bitcoin followed by the continuation of the uptrend. The nearest resistance levels are $9,850, $10,000, $10,250, $10,500, $11,000, $12,230. The nearest support levels are $9,600, $9,500, $9,400, $9,300, $9,200, $9,000, $8,600, $8,150, $7,900, $7,600, $7,500.

Technical analysis of Ethereum (ETH):

Market review, June 23, 2020

Over the past day, the price of ethereum reached the mark of $247. Now, it is $235. In the future, we predict a correction of the price of ethereum followed by the continuation of the uptrend. The nearest resistance levels are $250, $257, $260, $270. The nearest support levels are $240, $238, $235, $229, $225, $220, $218, $216, $212.

Technical analysis of Ripple (XRP):

Market review, June 23, 2020

Over the past day, the price of ripple reached the mark of $0.19. Now, it is $0.1850. In the future, we predict a correction of the price of ripple followed by the continuation of the uptrend. The nearest resistance levels are $0.19, $0.1950, $0.2, $0.2020, $0.2060, $0.21, $0.2150, $0.22, $0.23, $0.2350. The nearest support levels are $0.1820, $0.18.

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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