Market review, June 19, 2019

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2019-06-19 15:01:03

Tom Lee: within a few months, Bitcoin will reach $40,000. Godboul disagrees

Fundstrat Global Advisors analyst with optimistic forecasts, Tom Lee, expressed the opinion that after overcoming the mark of $10,000, the FOMO-driven price of Bitcoin will grow to $40,000, Bloomberg reports.

In a customer newsletter, Lee wrote that the “increasing level of transparency and market integrity” will promote an upward price movement.

He also stressed that after passing through the aforementioned psychological level, the movement will accelerate, as a result, the mark of $40,000 will be reached in a few months.

The fact is, crypto winter is over,” Lee said.

CoinDesk analyst Omkar Godboul has a somewhat different point of view. In his opinion, the rate of digital gold in the short term may fall to $8,600.

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

Bitcoin tested support levels of $9,000, $8,900. At the moment, bitcoin is trading higher at a price of $9,100. We expect a further increase in the price of bitcoin with the first target at $10,000. The resistance levels are $9,300, $9,500, $9,800, $10,000. The support levels are $9,000, $8,900, $8,730, $8,600.

Technical analysis of Ethereum (ETH):

Ethereum tested and maintained the support level of $261. At the moment, the price of ethereum is $266.4 and is near a local maximum. We consider a further increase in the price of ethereum. The resistance levels are $272.3, $276, $280, $290, $300. The support levels are $261, $255, $251, $244, $239.

Technical analysis of Ripple (XRP):

Ripple, in comparison with the altcoins, shows weakness and continues a corrective downward movement. We consider long positions if the price consolidates above the mark of $0.4315. The resistance levels are $0.4315, $0.4461, $0.46, $0.475, $0.5. The support levels are $0.4168, $0.4027, $0.3888, $0.3812.

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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