Market review, May 4, 2020

2020-04-05 13:09:10

More than 150 developers creating Ethereum-based blockchain projects have already received grants of $25 million since the beginning of the year.

According to research by analyst Stephen Zheng, the Ethereum Foundation has become the largest donor in the Ethereum ecosystem. Grants were also provided by the Ethereum Community Fund, Aragon Foundation, ConsenSys, and Protocol Labs.

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The Ethereum Foundation has issued 94 grants for $21.6 million.

The Ethereum community is looking forward to the launch of Ethereum 2.0, which is scheduled for July this year. Against this background, Bitfinex has recorded an increase in the number of long positions on ETH. The number of contracts began to grow markedly in mid-March, immediately after the price of the Ethereum fell to around $100.

Technical analysis of Bitcoin (BTC):

Market review, May 4, 2020

Over the past weekend, the price of bitcoin rose to the resistance level of $9,200. Then it fell to the support level of $8,550. Now, the price of bitcoin is $8,740. In the future, we predict the continuation of the positive movement. The nearest resistance levels are $9,000, $9,200, $9,450, $10,000. The nearest support levels are $8,600, $8,150, $7,900, $7,600, $7,500.

Technical analysis of Ethereum (ETH):

Market review, May 4, 2020

Over the past weekend, the price of ethereum rose to the resistance level of $219. Then it fell to the support level of $195. Now, the price of ethereum is $202. In the future, we predict the continuation of the positive movement. The nearest resistance levels are $210, $215, $225, $245. The nearest support levels are $208, $205, $198, $193, $189, $186, $183, $178, $174, $169, $166, $157, $161.

Technical analysis of Ripple (XRP):

Market review, May 4, 2020

Over the past weekend, the price of ripple rose to the resistance level of $0.2250. Then it fell to the support level of $0.2050. Now, the price of ripple is $0.2160. 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.

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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