Market Review. Results of the Day. 05/18/2018

May 18, 2018

Technical analysis

The second week of slow declining for main cryptocurrencies is coming to an end. EOS is better than the rest of the market (2.01%).

BTC $8,128.05. Resistance level is $8,400. Target level is $7,800.

ETH $681.30. Resistance level is $740. Target level is $520.

XRP $0.6686. Resistance is level $0.71. Target level is $0.47.

EOS $12.68. Resistance level is $14.00. Target level is $10.

BCH $1,184.26. Resistance level is $1,350. Target level is $1,000.

News review

The founder and CEO of a Chinese e-commerce giant Alibaba Jack Ma said, that he considers bitcoin a bubble. On the contrary he said that blockchain is not a bubble. 

Some analysts predicted, that Bitcoin Cash can overcome Ripple and take the third place after the upcoming hard fork. However, the hard fork, that took place on May 15, failed to have a positive effect, and the price of BCH lowered as a result. The cryptocurrency underwent some changes after the hard fork, for example the block size grew from 8MB to 32MB, and the overall speed of the network became higher.

China’s Ministry of Industry and IT has published official rating of cryptocurrencies. Ethereum took the first place, while bitcoin is at the 13th out of 28 positions.

WSJ study found that every fifth ICO is a scam. Total losses of investors may exceed $1 billion.

Bitfinex will share tax data of its customers with the government.


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