Market review, September 9, 2019

2019-09-09 15:08:09

According to media reports, the South Korean electronics manufacturer LG Corporation is going to release a blockchain-friendly smartphone soon.

The company has already completed the market research of blockchain companies and decentralized apps (dApps), according to a local media source, IT Chosun, citing an industry source.

“LG is likely to respond to Samsung’s innovation initiative,” the source added.

Another official familiar with the LG Group told IT Chosun that the company has been “struggling to apply blockchain to smartphones without any dissimilarity.”

Just last week, LG rival Samsung released a new blockchain-friendly smartphone, named KlaytnPhone, with a built-in cryptocurrency wallet. KlaytnPhone will be a variation of the recently released Samsung Galaxy Note 10, which offers a cryptocurrency wallet and decentralized apps.

The smartphone is named after the blockchain platform Klaytn, which was developed by a subsidiary of the South Korean giant Kakao GroundX. In late July, it became known that a cryptocurrency wallet from Pundi X will appear in the Samsung Galaxy S10.

As for LG, in July, it was reported that a South Korean company was working on a cryptocurrency wallet – not so long ago, it applied for the registration of the ThinQ Wallet trademark.

Technical analysis of Bitcoin (BTC):

Over the past weekend, bitcoin fell in price, breaking through the support levels of $10,650, $10,350, stopping at the support level of $10,000. After such a fall, the price of bitcoin rebounded. This movement coincided with our long-term forecast. Now, the price of bitcoin is $10,360. From a technical point of view, the price of bitcoin should continue its negative movement. The nearest resistance levels are $10,650, $10,900, $11,100. The nearest support levels are $10,350, $10,000.

Technical analysis of Ethereum (ETH):

Over the past weekend, the price of ethereum fell, reaching the support level of $165. Our long-term forecast has been successfully implemented. After such a collapse in prices, ethereum turned around and rushed up. Now, the price of ethereum is $181. Will it be able to break through the resistance level of $181? Let’s wait. The nearest resistance levels are $181, $185. The nearest support levels are $173, $172, $169, $165.

Technical analysis of Ripple (XRP):

Over the past weekend, ripple fell in price and reached the support level of $0.2480. After such a decline, the price of ripple turned around and rushed up. Now, its price is $0.2630. We tend to expect a further downtrend. The nearest resistance levels are $0.2630, $0.2670. The nearest support levels are $0.2560, $0.2525.

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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