The OKCoin exchange have now launched in the EU. They have chosen to open up some Euro pairs and they are doing this to traders for the first time in history. It is now available for people to buy as long as they are not in the US. They are also offering new spot offerings that will help them to cover Euro pairs. This is going to be the case when you look at Bitcoin or even ETH. Of course, if you are interested in buying BTC then you will also be interested to know that this is included. It is going to cover way more of the planned pairs. The firm have also released a statement saying that as from September the 4th, Euros can be deposited and that it is going to be withdrawn fee-free.
OKCoin have announced the new opening of a brand-new office in Malta. This features a tailored set of brand-new trading locations. They are also going to offer a huge new range of trading assets too. These are all going to be compliant with the Virtual Financing asset. When you look at the EU jurisdiction and the framework, you will see that OKCoin will be able to list their token projects and even their payment options quickly and most of all, safely. This is going to be done for all of their European customers and this is even more interesting.
Europe really is essential to the evolution of the market and it is also home to some of the more progressive ideas. This is going to innovate and disrupt the status quo of the financing system while also maintaining the regulations that are present in the industry right now. They are also pleased to say that they are enabling users to trade their own digital trading assets with ease. This is going to be done for the Euro and it is also going to be way safer when compared. The firm have been forced to shift their focus overseas and this happened when you look at the Big 3 exchanges. They are going to try and shift overseas and they are also going to try and lift the nation’s ban on the fiat currency too. When you go back to earlier 2019, you will see that the firm then started moving to a reverse IPO which is in Hong Kong. This followed the acquisition of the Star Xu founder. This happened at $60 million. The pair is trading and it is currently in range. The issue is that it is now facing a ton of hurdles. ETH is recovering above some of the key levels and this is especially the case when you look at it verses the dollar. The ETH price is probably going to struggle to move above the resistance level and this could cause issues for the future.
After trading at $223, the price for ETH then started to show a short-term recovery. This was done against the US dollar. The pair traded way above the resistance level and it then started to move into something much more positive. The price action right now is around $240 and it is above the hurdles on the upside.
There has been a break above the bearish trend and it has had a resistance of being close to $244. This is especially the case when you look at the hourly chart and even the moving average. The 50% Fib retracement of the downward move is now close to the $252 level. If there does happen to be a downside break, then the initial support is going to change this. Any further declines are probably going to increase the chances of this and when you look at the chart, you will see that it is trading way below the resistance. On the downside, the main support is going to be $235.