Market review, May 15, 2019

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2019-05-15 15:01:32

Samsung has confirmed information about plans to integrate cryptocurrency wallets in the budget models of their smartphones.

“We will gradually integrate support for blockchain functions into an increasing number of Galaxy models,” one of the top management representatives said. “We will also increase the number of countries supported.”

In addition, the company plans to launch a mobile identification card with the support of two local telecom operators: SK Telecom and Korean Telecom.

“We are working on the technology of identification and support of local currencies on the blockchain, cooperating with telecom operators,” a company representative also said.

Let us recall that in March, the long-awaited release of Samsung Galaxy S10, which supports the function of the storage of private keys, took place. At that time, many expected that this step would contribute to the expansion of the blockchain industry.

In April, it became known that the South Korean company was allegedly working on its own cryptocurrency based on Ethereum.

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

Over the past day, bitcoin fell, breaking through the support level of $7 800, and reached $7,330. We expect a further technical correction downwards, the nearest target is $7,150. This calculation is made using the Fibonacci grid. The nearest resistance levels are $8,100, $8,300. 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 $214, $220, and reached $236. This movement fully confirmed our yesterday's forecast. Now, we are expecting a technical correction. The nearest resistance levels are $236, $255. The nearest support levels are $220, $214.

Technical analysis of Ripple (XRP):

Over the past day, ripple, grew, reaching a support level of $0.44. This growth coincided with our yesterday's forecast. Now, the price of ripple is $0.42. In the future, we expect a technical correction downwards. The nearest resistance levels are $0.44, $0.45. The nearest support levels are $0.40, $0.3650.

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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