Market review, April 11, 2019

2019-04-11 11:02:35

Coinbase has announced the launch of Visa debit cards with the option of paying for goods using cryptocurrencies directly from the user's account on the exchange.

Coinbase Card will allow you to use bitcoin, ethereum and other cryptocurrencies “as easy as money from a bank account.” The conversion process will take place automatically and instantly at the moment when the user makes a transaction using the card.

It is reported that Coinbase Card will support all the cryptocurrencies available on the exchange, and you can spend use them for purchases, be it food in supermarkets or tickets for public transport. Cards will be available to users from Europe and the UK.

In addition, the company launched a special mobile application with the help of which users can select the cryptocurrency that they plan to use for the purchase of goods. Exchange clients will be able to receive a check, as well as view a list of transactions and categories of purchases.

Note that card issuing services will be provided by the British payment operator PaySafe. For the first 1,000 Coinbase Card users, the exchange will issue a card for free, and for subsequent clients, the commission will be about $6.5.

Let us recall that in February the Shift Card service, which issued Visa debit cards with the ability to use cryptocurrencies, announced the closure, and in late February, Aave launched the Aave Pay application, which allows users to pay their bills using cryptocurrencies.

Now, let's move to the technical analysis of Bitcoin (BTC):

Over the past day, bitcoin reached a new local top of $5,430. After that, the price of bitcoin went down for a correction. Now, the price of bitcoin is at the support level of $5,115. We expect a correction at least to the support level of $4,825. The nearest resistance levels are $5,115, $5,430. The nearest support levels are $5,050, $4,825.

Technical analysis of Ethereum (ETH):

Over the past day, ethereum went down and broke through the support levels of $175, $173, $166. Now, the price of ethereum is at around $168. Most then likely, the price of the ethereum will fall even deeper, to the support level of $160. The nearest resistance levels are $173, $175. The nearest support levels are $164, $160.

Technical analysis of Ripple (XRP):

Over the past day, ripple broke through all the expected support levels of $0.3450, $0.34, $0.33. Now, the price of ripple is at around $0.3340. We expect the continuation of the global uptrend. The nearest resistance levels are $0.35, $0.3570. The nearest support levels are $0.3450, $0.34, $0.33.

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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