11th June - Crypto Technical & Market Watch
(By Shivkumar)
Top Crypto Media Site CCN Shuts Down, Cites Google Update for Loss of Search Visibility
The post, written by Jonas Borchgrevink, director and founder of CCN Markets and Hawkfish AS, states that the reason behind the closure is a large drop off in traffic from Google searches following a June 3 Google Core Update. Borchgrevink writes that the crypto news site’s traffic fell over 71% on mobile overnight.
US Retailer Target Unveils Open Source Blockchain for Supply Chain Tracking
According to the post, Target ran a pilot test using blockchain technology to certify its paper products along the supply chain in 2018. The blockchain used in the test period was reportedly made open source on GitHub recently as “ConsenSource” — at least as far back as two months ago, judging by the repository’s update history.
According to the GitHub documentation, ConsenSource is built on blockchain platform Hyperledger Sawtooth, one of the Hyperledger projects hosted by the Linux Foundation.
Siberian Region Partners With Universa to Create Blockchain Tourism Destination
Universa Platform, a Russian blockchain platform intended for corporate management and state administration, has partnered with a Russian federal subject, Khanty-Mansi Autonomous Okrug, to help the bucolic region join the digital economy through blockchain enabled technology, according to a company statement.
The partnership will create a pilot area for digital technologies and services which aims to make the region, located in Western Siberia, a tourism destination as well as an attractive place for foreign direct investment.
1) BTC/USD
This points to a consolidation in the short term. The range might be between $7,413.46 and $9,000. If the bulls push the price above a rally to $9,000 is probable.If the BTC/USD pair reverses direction that has a target objective of $5,371.12. There are strong supports at $5,900. We expect buying to emerge at these support levels. Currently, we do not find any reliable buy setups.
2) ETH/USD
Ethereum (ETH) is range bound. It has currently dropped to the bottom of the $225.39–$280 range. The bulls are attempting to bounce off $225.39. If successful, the price will try to move up to the top of the range at $280.If the ETH/USD pair breaks down a fall to $167.20 is possible. Trading inside the range can be volatile. We wait for some trend.
3) XRP/USD
Ripple (XRP) broke down has a target objective of $0.26741. However, the bulls are currently attempting to push the price back.The next critical support of $0.35660. We anticipate strong buying at this level but if this support also cracks, a decline to $0.27795 will be in the cards.The traders can maintain the stop loss on the long position at $0.35. We will raise the stop loss as market move these week.
4) BCH/USD
Bitcoin Cash (BCH) is in a weak uptrend that bears are trying to gain an upper hand. In channel of Resistance of $ 399 and support of $354. We not find any positive buy setup.We wait before proposing any trade.
Disclosure: The author holds no cryptocurrency at the time of writing.
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