The previous week was rich on booms and busts, cause the #bitcoin rose above $8500 thus affecting almost all the #altcoins that are traded with it in a pair. However, for more than 4 days there has been a bearish behavior of the market players and in the near future there may be a decrease in a zone of $7,260 — $7,040. Then it will be necessary to look at the situation: whether support will sustain at these levels or not. If so, we continue to move upwards to $9,000. If we implement the bearish scenario and close the price below $6,700, we are most likely going to update the bottoms.
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Nevertheless, despite the market instability, Advanced Technology Coin Team continues an active work. Now we are working on a new version of an ARC Wallet, a team of programmers, who are ready to develop creative and advanced solutions have been involved. The main issues that will be solved in the new release of the wallet is a stable blocks generation, as well as transaction speed increasing and the possibility of the future scalability. To that end, the #blockchain will reduce the block generation time to 1 minute, after which 1440 units will be generated per day. At the same time, the transaction speed will increase in 2.5 times. There is a suggestion to increase the block size to 2 megabytes. At the same time, the speed will be doubled. Well, the cherry on the cake will be an implementation of the Lightning Network, which will increase the transaction speed several times more.
As for the situation on an exchange, almost nothing has changed since last week. Level 500 still stands strong resistance, the price is at the level of 23.6% expansion #Fibo from where it is predicted further upward movement, provided the rebound of the entire market.
#MACD points to the south and the price chart is below #SMA with a period of 50 #EMA with a period of 20, that indicates short-term sales. From the warrants glasses, it is evident that the mood in the market in the long term is more bullish as passive buy orders prevail, starting from 200 #satosh. In the red glass there are almost no aggressive large orders indicating a bearish attitude of traders, but still a good impulse is needed to overcome the key levels of price resistance.
However, in spite of even the draw-down of the price there is also a positive moment. Since there is an opportunity to purchase a coin at a reasonable price to install the #masternode, the amount of which is not so big now (about 300) and make a profit of about 35% per annul.
Levels of resistance: 1 resistance level -350; second — 500;
Support level 200;
Warrants for the purchase of 210, 220;
Warrants for sale 400.
