Market Review. Results of the Day. 05/16/2018

May 16, 2018

BTC $8298.78

ETH $695.87

XRP $0.6817

BCH $1271.10

EOS $12.16

LTC $138.08

Technical analysis

The main cryptocurrencies continued falling down today with the worst being EOS -4.1%. Trade volume has reduced. Short term decline trend is still underway.

BTC resistance level is $9,000.

ETH resistance level is $750.

XRP resistance level is $0.75.

EOS resistance level is 14.00$. EOS moves steadily down to $10.

BCH resistance level is $1,400. BCH today tries to break through support level of $1,250. If it turns successful, the next goal for reduction is $1,100.

Latest news

The largest American crypto exchange Coinbase has taken measures to attract institutional investors having launched four new products for this class of customers.

Major Taiwan private bank Taipei Fubon Commercial Bank became the first one to integrate blockchain payment system based on Ethereum. Today this function can be used by restaurants and sellers located near National Chengchi University.

Mitsubishi UFJ Financial Group, the world’s fifth largest bank is going to launch its own cryptocurrency in 2019.

The China Center for Information Industry Development (CCID) has presented its monthly global index for assessing public networks, a rating for cryptocurrencies and other blockchain projects with technological advantages. These measures demonstrate China's meltdown about blockchain and cryptocurrencies since September last year.

Consensus 2018 saw over 8,500 visitors which twice higher than expected. This caused huge queues, some technical problems and made entry prices rising sharply. Vitalik Buterin told, he did not take part in it as the prices were too high.

As estimated, the Consensus 2018 administrators made at least $17 mln from the event. The expected crypto rate boom hasn’t come true. The market did not go up to trillion yet, on the contrary, fell down by 150 billion over the last 10 days.


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