Have a nice and productive day for everyone, and for some of them, more recently, fruitful work on the "farm"! As always, I offer you a daily review of the market news:
BTC. Bitcoin once again failed to break through the resistance level at $36,200, which led to a pullback of the asset to the bottom of the range of $35,000 — $36,200, within which the price movement is carried out. On the two-hour timeframe, a bearish signal was formed — the intersection of the moving average of 20 MA 2 H and the slower 50 EMA 2 H from top to bottom, which may indicate a continuation of the correction in the short term. To date, the asset is consolidating above the support level at $35,000. The most likely scenario is a retest of the dynamic resistance zone of 50 EMA 2 H, depending on the reaction to which 2 options are possible. The first is an unsuccessful assault on the level, followed by a rollback of the instrument to the $34,000 mark. The second is a breakdown of bitcoin 50 EMA 2 H in the event of an increase in buyer pressure, followed by a consolidation above the correction level of 0.786 on Fibo ($36,212).
ETH. In a pair with BTC, the value of the asset has increased by 1% over the past 24 hours. Ether is gathering strength to storm the resistance around $2350, the nearest support level is $2100.
Analysts of the JPMorgan financial holding did not see the recognition of bitcoin by El Salvador as a legitimate means of payment as a special economic benefit for the state itself .
Representatives of the holding stressed that such a decision could jeopardize negotiations with the International Monetary Fund (IMF), since on June 11, the director of the IMF's Communications Department, Jerry Rice, announced the risks and regulatory problems associated with the legalization of bitcoin payments.
Interesting is the conclusion presented in the report that El Salvador's move may become a trend for a number of small states. At the same time, we should not forget the president's initiative to attract geothermal energy for cryptocurrency mining and the legal framework loyal to digital assets and crypto startups, which will eventually attract capital inflows to the country and create additional jobs.
Indian cryptocurrency exchange WazirX has become a person of interest in the investigation of the Indian Law Enforcement Agency (ED). According to the Times of India, the agency found suspicious transactions when checking for money laundering of illegal online betting applications owned by Chinese citizens.
WazirX director Nishal Shetty made comments on Twitter about the allegations, noting that the exchange complies with customer identification (KYC) and anti-money laundering (AML) requirements.
Meanwhile, cryptocurrency in India itself is neither legal nor illegal, despite the Reserve Bank of India's (RBI) latest clarification to the rest of the financial institutions that they cannot warn their clients against working with cryptocurrency. The government is likely to discuss a cryptocurrency bill in the near future, which will determine the fate of digital assets in India.
Altos: The news about the inclusion of the FairGame project (FAIR) in the MVB program of the BSC platform increased the cost of FAIR by 30% (to the dollar).
The listing of Egoras Rights (#EGR) on the MXC exchange caused the # EGR to rise by 25% at the peak (against the dollar).
The strategic partnership with Dafi Protocol (#DAFI), announced by the Konomi Network (#KONO), resulted in a 20% increase in the price of # KONO (against the dollar).
▫ ️The total capitalization of the cryptocurrency market over the past day increased by 0.6%, showing growth at a peak of 3.6%. Bitcoin's dominance declined by 0.7%. The consolidation of # BTC allowed altcoins to recover somewhat, and to continue this trend, it is necessary to consolidate bitcoin above the $36,200 level.