Market review, May 14, 2019

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2019-05-14 14:01:27

GoTenna has signed a cooperation agreement with Blockstream, which will make the way to send bitcoins without an internet connection more convenient.

Developing on the Bitcoin blockchain, the company Blockstream and the New Zealand developer goTenna combine their efforts to improve the Satellite – a project that allows you to send and receive bitcoins without the presence of the Internet by transmitting data via satellites and radio frequencies that support goTenna devices.

“Users will be able to receive bitcoins via satellite and the goTenna Mesh network without a direct internet connection,” the project description says. “If you don’t like the control of the local provider or your connection is disconnected for some reason, for example, due to a natural disaster, you can still complete the transaction,” developer of decentralized applications at goTenna, Richard Myers, said.

Cooperation between Blockstream and goTenna will also make it easier to perform transactions offline.

The Satellite project was initially available to users in Africa, Europe and America, then it expanded its presence to the Asia-Pacific region.

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

Over the past day, bitcoin grew even higher, to the support level of $8,300. Thus, bitcoin tops record levels. For two weeks in May, it grew by more than 60%. This upward impulse, in our opinion, should end soon. The price of bitcoin should decrease. We expect a technical correction downwards, the nearest target is $7,150. This calculation is made using the Fibonacci grid. The nearest resistance levels are $8,300, $8,500. The nearest support levels are $7,800, $7,450.

Technical analysis of Ethereum (ETH):

Over the past day, the price of ethereum increased, breaking through the resistance levels of $200, $206, and reached $214. This movement fully confirmed our yesterday's forecast. Now, the price of ethereum is $207. We expect its growth. The nearest resistance levels are $214, $220. The nearest support levels are $205, $200.

Technical analysis of Ripple (XRP):

Over the past day, ripple grew, reaching a support level of $0.40. This growth coincided with our yesterday's forecast. Now, the price of ripple is $0.3820. In the future, we expect the continuation of the uptrend. The nearest resistance levels are $0.40, $0.45. The nearest support levels are $0.3650, $0.34.

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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