Altcoin Analysis: BTC, ETH, XRP, BCH, LTC Cryptocurrency Review
October 14, 2019, by Marko Vidrih on ALTCOIN MAGAZINE
Since Monday, the indicator of total market capitalization decreased by 1.8% and is in the region of $222 billion.
Bitcoin
Over the past two days, Bitcoin has lost about 1.5% of its capitalization, most of the time remaining sideways. For a longer time interval, the saw-shaped lateral movement also continues. In the current situation, there is still uncertainty regarding the direction of the main trend after the end of the side period. As before, the strategy of waiting and observing what is happening remains relevant.
Ethereum
In ETH, after exiting the trading range upwards, contrary to expectations, the price quickly returned. By the current moment, the chart is on the trend line. The medium-term uptrend continues, so if in the next few hours the price remains above the blue line as part of a trend trading strategy, you can try again to speculatively open a long position. If the price drops below the trend line, then this idea is subject to cancellation.
Ripple
After updating the highs of the last week, XRP moved upward for some time, however, over the last day, a correctional movement has been observed. As a result, the price returned to the values of Monday. A short-term trend has formed, therefore, from a technical point of view, it is most convenient to place a protective order below the blue line, taking into account the current volatility. The general market sentiment is holding back the growth of the coin, but given its dynamics since the end of September, with positive changes, the situation can quickly change.
Bitcoin cash
BCH broke through the lower border of the trading channel, as a result of which a protective order triggered. Over the past three weeks, the price movement has been saw with a range of changes of 8–10%. Any forecast of further dynamics does not make much sense from a practical point of view since it is very difficult to predict the development of the situation in the absence of a clear trend. Minimal trading activity and monitoring the dynamics of indicators may be the most convenient strategy for the coming days.
Litecoin
The situation is similar in LTC — lateral movement continues. The chart under pressure from the “bears” broke the blue trend line and gradually move to the support area at $53. Further dynamics will depend entirely on the mood of the participants in the market as a whole. A neutral position and the expectation of new favorable conditions, in this case, may be a justifiable decision.
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Author: Marko Vidrih
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