20th July - Crypto Technical & Market Watch
(By Shivkumar)
‘Samsung Coin’ Trademark Filing Unaffiliated With Samsung
On July 10, Kim Nam-jin applied for a Trademark 5 (TM5) on the name “Samsung Coin” with the Korean Intellectual Property Office (KIPO). As per the filing, it appears that Nam-jin is seeking to trademark the name in both its Korean spelling in Hangul as well as in English.
Oil Markets Could Save 30% With Blockchain, Data Gumbo CEO Says
When asked how much oil industry players can save by implementing blockchain applications such as blockchain-based contract execution instead of traditional paper contracts, Bruce argued that such solutions could save at least 30%, referring to internal studies by the company. According to Data Gumbo’s data, oil and gas market accounted for $2.6 trillion by 2017.
1) BTC/USD
If the BTC/USD pair turns down from current levels and fall below $9,080, it will indicate a change in trend. The next support on the downside is at $7,451.63.It also suggests that bears only have a slight advantage.if the next dip to $9,080 holds and above $ 10343,it indicates this fall as a buying opportunity. We will wait for a trade to form before suggesting a trade.
2) ETH/USD
The pullback from the uptrend line hit a barrier at $$224.086.These level will now act as resistance.The pair is currently in a bearish mode and can sink the pair and if successful it can drop to $ 150.if the price rebounds from the uptrend line and sustains above $224.086, it can move up to $ 271.We will wait for the uptrend to resume before suggesting a long position in it.
3) XRP/USD
Ripple (XRP) from close to the critical support of $0.27795 is facing resistance at $0.3270. If bulls defend the next dip towards $0.27795.If the bears sink the XRP/USD pair below $0.27795 and there is a minor support at $0.24508 below which the downtrend will resume.We see the pair in the firm grip in bearish mode.We will wait for buyers to return and a reversal setup to form before recommending a trade in it.
4) BCH/USD
Bitcoin Cash is facing selling close to $325.If the BCH/USD pair turns down from the current level and breaks below $250, it can drop to $227.70. If this level also cracks, we can expect a deeper fall to $166.98.There is a clear indication the bears are in control.We will wait before suggesting any trade.
Disclosure: The author holds no cryptocurrency at the time of writing.
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