Market review, February 25

4
2020-02-25 16:01:50

At the end of next month, the US Congress will hold a hearing on the development and regulation of digital currencies.

According to a press release, a hearing entitled "Review of Domestic and International Approaches to Digital Currencies" is held on March 24 at the US House Financial Services Subcommittee on National Security, International Development, and Monetary Policy.

At this time, no further details of the hearing are available. However, it is likely that lawmakers will be talking about Facebook Libra, given how the project has been met by some members of Congress, including Committee Chairman Maxine Waters.

Recently, Jerome Powell, chairman of the Governing Council of the Federal Reserve, speaking to Congress, said that the Fed was actively working to create a "digital dollar." At the same time, the impetus to develop a national cryptocurrency was the announcement of Libra.

Technical analysis of Bitcoin (BTC):

Over the past day, the price of bitcoin dropped to the support level of $9,470, then it jumped to the resistance level of $9,670. Now, the price of bitcoin is $9,530. In the future, we expect the continuation of the negative movement. The nearest resistance levels are $9,730, $9,820, $9,900, $10,200, $10,500, $11,000. The nearest support levels are $9,470, $9,320, $9,200, $9,000.

Technical analysis of Ethereum (ETH):

Over the past day, the price of ethereum dropped to the support level of $255, then it jumped to the resistance level of $266. Now, the price of ethereum is $261. In the future, we expect the continuation of the downtrend. The nearest resistance levels are $263, $273, $285, $288, $300. The nearest support levels are $257, $250, $244, $236, $230, $224.

Technical analysis of Ripple (XRP):

Over the past day, the price of ripple dropped to the support level of $0.2610, then it jumped to the resistance level of $0.2710. Now, the price of ripple is $0.2660. In the future, we expect the continuation of the downtrend. The nearest resistance levels are $0.2710, $0.2780, $0.2810, $0.2855, $0.2980, $0.30, $0.3080. The nearest support levels are $0.2650, $0.26, $0.2580, $0.2530.



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.
Something went wrong
Message: