• Shivkumar

15th June - Crypto Technical & Market Updates

(By Shivkumar)


Crypterium Introduces Global Crypto Payments Card


Prior to this launch, crypto cards, such as the Coinbase Card, were only accessible in specific countries or by region, according to the company. Coinbase recently announced it would roll out services to six additional European countries after being only available for users in the U.K.


Crypterium believes that crypto cards are the “easiest and fastest way for holders to access their digital currencies,” but were concerned availability was too limited or arbitrary to make it a legitimate option for crypto payments on the world stage.


Report: Uber, PayPal, Visa to Back Facebook’s GlobalCoin Cryptocurrency


The Wall Street Journal reported Thursday that the social media giant has signed on more than a dozen backers for its GlobalCoin cryptocurrency, a stablecoin that has been developed in secrecy for more than six months. Each of the new backers will invest roughly $10 million in the project as part of a governing consortium for the cryptocurrency.


Stripe, Booking.ncom and MercadoLibre are part of the project, according to the Journal, though the report does not specify what their roles are.


Smart Contract Startup Tapped By Google As Blockchain Partner


Google has tapped a startup token project, Chainlink, as an official Cloud Partner and the relationship suggests a deep and detailed interest in blockchain technology by the Mountain View giant.


The partnership, described in a detail Google Cloud blog post, aims to place BigQuery data on the blockchain using a “Chainlink oracle smart contract.” BigQuery is Google’s data warehousing and business intelligence solution.


1) BTC/USD


The bulls will now try to carry it to the recent highs of $9,053.12. A breakout of this resistance will propel the cryptocurrency to $10,000.This suggests that bulls have an advantage in the short term.If the BTC/USD pair turns down well before breaking out of $9,053.12, it will be in danger of forming bearish setup.The cryptocurrency can drop to $7,413.46, which is a critical support.We anticipate a strong defense of this level by the bulls, but if this support cracks, the fall can extend to $5,900.

15th June - Crypto Technical & Market Updates

2) ETH/USD

Ethereum (ETH) is range bound between $225.39 and $280.The bulls will attempt to push the price towards the top of the range at $280. A breakout of the range will start a new uptrend that can result in a move to $322.06 and above it to $335.if the ETH/USD pair turns down from $280, the next support is at $225.39.if the bears sink the price below $225.39, it can slump to $167.20.We might suggest long positions if the cryptocurrency bounces off $225.39 or breaks out of the range.


3) XRP/USD


The XRP/USD pair has strong support in the $0.35660–$0.37835 zone. If the support breaks down, the cryptocurrency will become negative and can plunge to the critical support of $0.27795. For now, traders can keep the stop loss on the long position at $0.35.


4) BCH/USD


Bitcoin Cash (BCH) shows hesitation by the bulls at higher levels.if the BCH/USD pair picks up momentum, it can rally to $450 and above it to $481.99. if it fails to stay above it can again correct to $363.71. We will wait for a reliable buy setup to form before suggesting a trade in it.

Disclosure: The author holds no cryptocurrency at the time of writing.

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FOREX - CRYPTOCURRENCY

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