Market review, May 23, 2019

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2019-05-23 14:02:10

The Russian National Settlement Depository (NSD) launches the D3ledger decentralized platform in Switzerland.

A subsidiary of the Moscow Exchange Group has chosen Switzerland as a jurisdiction for the implementation of the decentralized digital depository D3ledger - a project that has been developed since 2017 and will be ready for launch in June of this year.

According to Artem Duvanov, head of innovation at NSD, the choice of a country is conditioned by a favorable regulatory environment in which his team sees a long-term perspective for promoting digital assets on the market.

Firstly, in terms of legislation, tokenization of securities is allowed in Switzerland. And secondly, there is a demand for them in the market,” he specified.

The platform is built using Iroha technology, Soramitsu, which is a member of the Hyperledger consortium, has contributed to its development. Let us recall that the Moscow Exchange joined the Hyperledger blockchain consortium in 2016.

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

Over the past day, bitcoin rose again to the mark of $8,000 and dropped again to the support level of $7,400. This movement completely coincided with our yesterday's forecast. We still expect a technical correction downwards, the closest target is $7,200, $6,600. This calculation is made using the Fibonacci grid. The nearest resistance levels are $7,740, $8,000. The nearest support levels are $7,500, $7,200.

Technical analysis of Ethereum (ETH):

Over the past day, the price of ethereum dropped to the support level of $230, then it rebounded to the mark of $237. This movement completely coincided with our yesterday's forecast. We expect the continuation of the negative movement. The nearest resistance levels are $247, $255. The nearest support levels are $227, $210.

Technical analysis of Ripple (XRP):

Over the past day, ripple dropped to the support level of $0.36. This movement completely coincided with our yesterday's forecast. Now, the price is $0.3670. In the future, we expect consolidation. The price may drop even lower, to the next support level of $0.34. The nearest resistance levels are $0.38, $0.40. The nearest support levels are $0.36, $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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