Market review, June 18, 2019

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2019-06-18 15:00:58

French developers have set a date for Tezos hard fork

The non-profit organization Tezos Commons Foundation has published an official statement about a potential network's hard fork, which may be initiated by the French development team OCamlPro, the company's grantee.

As proof, the organization published the text of an email allegedly sent by Starchain Capital, a recently registered cryptocurrency fund.

According to the document, the management of OCamlPro and Starchain Capital announced a collaboration to develop and implement a fork of the Tezos blockchain called Dune Protocol in September 2019. The letter also says that Starchain Capital is attracting “investments to finance a separate project.”

Representatives of Tezos recalled that anyone could hold the fork of their blockchain. The problem, according to them, is the “unfair behavior of the OcamlPro management”.

We found that this text also contains a number of, charitably speaking, inaccurate statements that are intended to exaggerate the role of the OCamlPro leadership. They did not create OCaml, Fabrice [Le Fessant, founder and supervisor of OCamlPro] was not the “teacher” of Tezos co-founder Arthur Breitman, but Tezos chief engineers, who initially worked at OCamlPro, now work at Nomadic Labs, not at OcamlPro.”

However, confirmation of whether the letter is an original or a fake has not yet been submitted.

OCamlPro participated in the Tezos grants program and worked on Liquidity and TzScan projects. However, OCamlPro refused to fully disclose the code of their products, which is one of the conditions for receiving grants. Tezos Foundation announced the termination of its funding in case of non-compliance in the second quarter of this year.

Let us recall that in March, the Tezos blockchain project completed the first round of voting for proposals for protocol updating. The winner was ‘Athens A’, which received 18,181 votes.

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

Bitcoin fulfilled our forecast, and, having broken through several resistance levels, reached the level of $9,350. Given the sharp increase in the price to the current one, we expect a further increase in the price of bitcoin, however, after the corrective movement. The support levels are $9,000, $8,900, $8,730, $8,600, $8,430. The resistance levels are $9,300, $9,500, $9,800, $10,000.

Technical analysis of Ethereum (ETH):

Ethereum increased in price and reached $275. We consider long positions if the price fixes above the level of $273. The resistance levels are $273, $276, $280, $290, $300. The support levels are $260, $255, $251, $245, $239.

Technical analysis of Ripple (XRP):

Ripple, along with the rest of the coins, rose in price, but from the level of $0.4562, it began its correction movement. We consider short positions in the continuation of the correction. The support levels are $0.4315, $0.4168, $0.4027, $0.3888, $0.3812. The resistance levels are $0.4461, $0.4562, $0.46.

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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