Trading ideas on Tuesday! Good news on the Ethereum. My forecast for ZEC
Good morning, steemians and traders!
Good news on the Ethereum.
The National Research Council of Canada (NRC) launched a project, which uses Ethereum's block to record state contract data.
The project also involves the Bitaccess startup-blockchain, which provides its Catena platform for publishing data on government grants and contributions using an open source blockbuster.
According to a press release, the Technical Research Assistance Program (IRAP) is designed to increase the transparency of government activities. In its framework, information on relevant activities is already published. The research team is also exploring the possibilities for using blockchain technology in other areas of the public sector.
Bitakcess co-founder Mo Edhem explained that the set of tools developed by them on the Catena blockbuster is designed to increase the transparency of organizations.
ETHUSD: slow down
Now against the background of positive news from Canada, Ethereum should slow down and stopped at 61.8% Fibo, but this will not allow it to reverse the trend. In favor of this scenario says a moderate oversold on the oscillator. The rate may fall to $900, but the test and breakdown $888 support and seems unlikely.
ZECUSD: purchases from $390 are very relevant
ZECUSD after several support tests $425 broke it. The oversold on the oscillator is average and the Keltner channel points down, so a drop to the control point of $402, or maybe to $390 (a convenient area for buying) is very likely. On these marks, the price is expected to return to the Keltner channel and the probability of a price turn up is increased, with the formation of a double bottom (not very obvious figure). But there is a risk of turning the $425 level into resistance.
P.S. For reinsurance (in case of a fall of BTC and the entire market as a whole), it is better to place a stop loss at $360-$380 and not open positions with a large volume.
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Information presented in this material is the opinion of the author and is not an offer to a specific action.
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