Market review, May 22, 2019

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2019-05-22 15:01:53

Let's move to the technical analysis of Bitcoin (BTC):

Over the past day, bitcoin rose to the mark of $8,000 and dropped again to the support level of $7,700. We still expect a technical correction downwards, the nearest target is $7,200. This calculation is made using the Fibonacci grid. The nearest resistance levels are $8,000, $8,300. The nearest support levels are $7,500, $7,200.

Technical analysis of Ethereum (ETH):

Over the past day, the price of ethereum rose to the resistance level of $264, after which it dropped to $249. Now, the price is $251. We expect the continuation of the negative movement. The nearest resistance levels are $255, $264. The nearest support levels are $248, $226.

Technical analysis of Ripple (XRP):

Over the past day, ripple again rose to the resistance level of $0.40. This is the third unsuccessful attempt to break through the resistance level of $0.40. Now, the price of ripple is $0.3820. In the future, we expect a deeper correction. The nearest resistance levels are $0.4050, $0.4220. The nearest support levels are $0.38, $0.36.

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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