Search
  • Shivkumar

28th March - Crypto Technicals & Market Watch

(By Shivkumar)


Zebpay - Lightning Offers Growth Path for Emerging-Market Crypto Exchanges

While leading cryptocurrency exchanges like Coinbase and Binance feverishly add new tokens, smaller exchanges serving emerging markets are pivoting toward retail applications of the lightning network’s bitcoin scaling solution.

The latest is Singapore-based exchange Zebpay, which now offers lightning wallet options for users who want to send lightning-enabled payments to external wallets.

Bitcoin users can cash out their crypto directly to make a nearly instant payment to any lightning-friendly wallet. For now, Zebpay will enable this feature by handling all the channels to recipients on the back-end.


Japan Approves 2 New Crypto Exchanges - 140 More Interested


The Japanese Financial Services Agency (FSA) approved the applications for two new cryptocurrency exchanges this week — one from Rakuten Wallet Co. Ltd. and the other from Decurret Co. Ltd.

The number of entities which have expressed interest in market entry as virtual currency operators in Japan (Including preliminary consultation/inquiries regarding registration) is more than 140 since last March.


Why Mark Zuckerberg and Jack Dorsey Are Warming to Blockchain


Mark Zuckerberg speculated on the prospect of Facebook using a blockchain model to enable decentralized logins without its servers acting as authenticators. All this came around the time The New York Times reported that Facebook is developing a digital currency that its users can trade among each other and exchange on cryptocurrency exchanges.

Jack Dorsey appears to have gotten religion when it comes to cryptocurrencies. He has declared that bitcoin will be the “native currency of the Internet,” has invested in Lightning Labs, which is developing payment channels for bitcoin based on the lightning network, and recently announced that Square, the separate payments company that he heads, will hire crypto engineers and likely pay them in bitcoin.



1) BTC/USD


The digital currency is currently attempting to scale above $4,065 and rally towards the overhead resistance of $4,255. We also expect short covering above $4,255 to provide momentum. On the downside, the first support to watch is the zone between $3,355 to $3,236.09 is probable. Therefore, traders can hold long positions with a stop loss of $3,500. We shall soon raise it to $3,800.


2) ETH/USD


Ethereum where buying emerged, if successful, a move to $144.78 is probable and close to $167.32. If the pair turns down from the current levels, it can correct to $125.88. This will weaken the digital currency and drag it to $116.30. Hence, the stops on the remaining long positions can be kept at $125.


3) XRP/USD


As we had suggested a stop just below $0.27795, we shall consider that the long positions were closed. If not, traders can keep the stop loss at $0.270. If successful, the pair is likely to move up to $0.33108. The digital currency will pick up momentum above $0.40 and can reach $0.60. We recommend buying on a close above $0.33108.


4) BCH/USD


A close above $163.89 with the target objective of $222.78. If the bulls fail to sustain above $163.89, Traders can protect their long positions with the stops at $140.

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

Register for Technical news and market update contact@shivfxcrypto.com

8 views
  • Instagram Social Icon
  • Twitter Social Icon
  • s-facebook