Day: July 5, 2018

Ethereum Classic Price Analysis: ETC/USD Eyeing Upside Break

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Key Highlights Ethereum classic price is placed in a bullish zone above the $16.50 support against the US dollar. There is a connecting resistance trend line formed with current hurdle near $17.50 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair is likely to make an upside move above the $17.40 and $17.50 resistance levels. Ethereum classic price is slowly gaining momentum against the US Dollar and Bitcoin. ETC/USD must break the $17.50 resistance for more gains in the near term. Ethereum Classic Price Resistance…

Ripple Price Analysis: XRP/USD Holding Key Support

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Key Highlights Ripple price is following a bullish path above the $0.4750 pivot level against the US dollar. There is a major bullish trend line in place with support at $0.4900 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is likely to extend the current upside move as long as it is above $0.4800 and $0.4750. Ripple price is holding important support levels against the US Dollar and Bitcoin. XRP/USD is likely to move further higher above the $0.5050 level in the near term.…

Crypto Exchanges Are Already Adapting to India’s Bank Account Ban

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As the Indian Supreme Court declined to end a circular issued by the country’s central bank that bars crypto exchanges from working with banks, trading platforms are taking varied actions ahead of the next court hearing set for July 20. Zebpay, the largest crypto exchange in India by trading volume, said in a Tweet on Wednesday it had paused the Indian rupee deposit and withdrawal services until banks allow it again following the Supreme Court’s decision earlier this week. As previously reported by CoinDesk, the Supreme Court held a hearing on…

Ethereum Price Analysis: ETH/USD Holding 100 SMA

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Key Highlights ETH price failed once again around the $482-484 resistance and declined against the US Dollar. There is a major bullish trend line formed with support at $454 on the hourly chart of ETH/USD (data feed via Kraken). The pair is holding the $450 support and the 100 hourly simple moving average, which is a positive sign. Ethereum price is placed in a positive zone against the US Dollar and Bitcoin. ETH/USD must stay above the $454 support and the 100 hourly SMA to move higher. Ethereum Price Trend…

Bitcoin Cash Price Analysis: BCH/USD Remains Supported

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Key Points Bitcoin cash price retested the $740 support zone and is currently holding gains against the US Dollar. There is a new connecting bullish trend line formed with support at $742 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair must stay above the $740-750 support and the 100 hourly simple moving average. Bitcoin cash price is holding gains above $740 against the US Dollar. BCH/USD has to move above the $780 and $800 resistances to gain upside momentum. Bitcoin Cash Price Support There…

EOS Price Watch: Short-Term and Long-Term Channels

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EOS Price Key Highlights EOS price is finding support at the bottom of the long-term ascending channel on the daily chart. This lines up with the bottom of a short-term falling channel, so a test of this resistance is due. If the nearby resistance levels are broken, EOS price could gain more upside traction to the longer-term channel top. EOS bounced off the short-term and long-term channel support and is on its way to test the nearby resistance levels. Technical Indicators Signals The 100 SMA is still above the longer-term…

All Big Insurers Are Uniting Behind R3’s Blockchain Tech

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R3 has scored another win in the insurance sector, giving the startup a wide lead over other distributed ledger technology (DLT) providers in the sector. Revealed exclusively to CoinDesk, the RiskBlock Alliance, whose members include such insurance heavyweights as Chubb, Marsh and Liberty Mutual, has decided to build its first set of use cases using R3’s Corda platform. The news comes soon after B3i, the European reinsurance consortium, decided to switch from Hyperledger Fabric to Corda. With the addition of RiskBlock, R3 now counts all the major insurance blockchain consortia as Corda…

Bitcoin (BTC) Price Watch: Bulls Defend Wedge Support

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Bitcoin Price Key Highlights Bitcoin price continues to consolidate inside its rising wedge formation visible on the 1-hour chart. Price has bounced off support to test the resistance and is now back to the bottom once more. Technical indicators appear to be suggesting that the uptrend is more likely to resume than to reverse. Bitcoin price is still consolidating inside its rising wedge formation but may be due for a breakout soon. Technical Indicators Signals The 100 SMA is above the longer-term 200 SMA to indicate that the path of…

Malta Passes Blockchain Bills Into Law, ‘Confirming Malta as the Blockchain Island’

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The Parliament of Malta has passed three bills into law that establish a regulatory framework for blockchain technology, local news outlet Malta Today reported July 4. The bills include the Malta Digital Innovation Authority Act, the Innovative Technological Arrangement and Services Act, and the Virtual Financial Asset Act. Silvio Schembri, Junior Minister for Financial Services, Digital Economy and Innovation within the Office of the Prime Minister of Malta, tweeted about the passing of the bills today, noting that the island nation is a pioneer in providing a solid legal framework…

President of Uzbekistan Signs Decree on Blockchain Integration, Tax Exclusions for Crypto

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The President of Uzbekistan has signed a decree on the development and integration of blockchain technology, cryptoassets, and crypto mining with the goal of modernizing the state administration system and advancing digital economics in the country. President Shavkat Mirziyoyev signed a decree “On measures for digital economics development in the Republic of Uzbekistan” on July 3. The document describes blockchain, artificial intelligence (AI), supercomputers, and crypto-related activities as key development trends of digital economics globally. The decree calls for the creation of conditions to introduce “digital economics” in Uzbekistan. According…