Market review, May 11, 2019

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2019-05-11 15:01:33

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

Over the past day, bitcoin grew even higher – to the support level of $6,927. We consider this upward movement to be final. We expect technical correction downwards, the nearest target is $6,200 according to the Fibonacci Grid. The nearest resistance levels are $6,930, $7,250. The nearest support levels are $6,630, $6,350.

Technical analysis of Ethereum (ETH):

Over the past day, the price of ethereum increased significantly, breaking through the resistance levels of $174, $177, and reached $193. We consider this growth final. Now, the price of ethereum is $188. We expect a downward correction at least to the support level of $179. The nearest resistance levels are $193, $200. The nearest support levels are $184, $179.

Technical analysis of Ripple (XRP):

Over the past day, ripple grew, reaching a support level of $0.32. This growth coincided with our yesterday's forecast. In the future, we expect the continuation of the uptrend. The nearest resistance levels are $0.3130, $0.32, $0.33. The nearest support levels are $0.3080, $0.30.

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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