Market review, June 27, 2019

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2019-06-27 16:00:46

The largest cryptocurrency exchange Binance announced the launch of Binance 2.0 – an updated platform on which margin trading will be available to all users.

While Bitcoin growth continues, Binance has launched Binance 2.0 with access to margin trading for all. We are building in bear and bull markets!”, – the head of the exchange, Changpeng Zhao, wrote on Twitter.

He also noted that the process of transferring users to a new version of the platform can take place with delays and reduced performance. However, it is reported that the old platform will be closed soon.

Margin trading on the exchange will be available for five cryptocurrencies: BTC, XRP, BCH, TRX, and ETH. At the moment, the leverage is very small – 1: 2, but the risks are quite high. Zhao said that one trader has already faced the forced liquidation of the marginal position.

Let us recall that earlier the Binance Exchange announced the restriction of access to trade on the exchange for US users. However, a local regulated platform will soon be launched for them.

Technical analysis of Bitcoin (BTC):

Over the past day, bitcoin fell sharply, reaching the support level of $11,450. Now, the price of bitcoin is $12,100. We expect Bitcoin to rebound upwards, as well as the continuation of the technical correction downwards. The nearest resistance levels are $12,360, $12,900. The nearest support levels are $12,000, $11,450.

Technical analysis of Ethereum (ETH):

Over the past day, ethereum fell in price, reaching a support level of $300. Our yesterday's forecast has been successfully implemented. Now, the price of ethereum is $309. We expect a rebound upwards and a technical correction downwards. The nearest resistance levels are $336, $328. The nearest support levels are $ $308, $301.

Technical analysis of Ripple (XRP):

Over the past day, ripple fell in price, reaching a support level of $0.4070. We expect a rebound upwards to the resistance level of $0.4480. Now, the price of ripple is $0.4240. The nearest resistance levels are $0,4260, $0,4410. The nearest support levels are $0.4180, $0.4080.

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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