Altcoin Analysis: BTC, ETH, XRP, EOS, LTC Cryptocurrency Review
The cryptocurrency market continues its ascent. Capitalization is already $364 billion, which is 12.3% higher than Monday.
The growth of the market is mainly due to the growth of BTC and ETH.
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In BTC, the upward movement continues, and with acceleration. Price easily brake the upper resistance (red line). The fact of the breakdown gave a good opportunity for thrill-seekers to play big, risking a part of the still unfixed profits, however, if successful, make good money. This time, our expectations were fully met. It’s time to throw off shoulders, everyone decides for himself. It depends on many factors, and primarily on individual sensitivity to risk. While the trend continues, but it is obvious that it is overbought, therefore, further acceleration of price movements without some correction is unlikely.
ETH continue to correlate with BTC quote. Another breakdown of the red line occurred tonight, as a result of which the price reached the levels of early August last year. The trend continues, and in this case, due to the fact that after each wave of purchases chart is consolidated at the achieved levels, there is no obvious overheating. So far, as in the BTC, we hold the position, but without any increased risk. Stop loss a little below $315. Due to the high volatility, as well as due to the fact that at the moment we are already risking only a part of the profits, it is impractical to make the stop shorter.
XRP is again trading around $0.47, but there is still no apparent demand for an asset from buyers. The movement most likely occurs by inertia in attempts to catch up with the leaders. BTC and ETH are now more interesting for investment, so in XRP we still stand aside and monitor the level of $0.49, the breakdown of which can be a signal to a sharp revaluation of the asset. At the same time, we should not forget that even in the case of a breakdown, speculators need to be extremely cautious, since, in the case of the start of a correction in the entire market, there is a high probability of getting a completely opposite effect.
EOS “stuck” at the level of $7.2 and cannot go any further. In this instrument, it is still better to remain out of position until the moment you leave the outset because no profit is earned. In the event that lagging bulls begin to jump into indiscriminate assets, in an attempt to catch up with the departed EOS train, there are good chances for growth, but it is still better to wait for confirmation in the form of a breakdown of $7.6.
LTC chart remains sideways for a long time. As before, you can only note that there are absolutely no bright ideas here, so we are waiting for a way out of the outset and are looking for a profit in other coins.
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Author: Marko Vidrih
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