Altcoin Analysis: BTC, ETH, XRP, EOS, LTC Cryptocurrency Review

September 20, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Marko Vidrih
Sep 20 · 5 min read

Over the past two days, volatility indicators have increased significantly in almost all liquid instruments of the cryptocurrency market. The total capitalization indicator has changed slightly, having decreased by only 0.3%. Currently, its value is $270 billion.

Image credit: CoinMarketCap

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Bitcoin

BTC chart, which broke through the blue trend line on Wednesday, later on fell sharply to $9,500 per coin. To date, the price has recovered to the level that was observed before the start of fall. The dynamics of recent days allows us to conclude that significant changes have occurred in the structure of supply and demand of this instrument. Apparently, large buyers left, gaining the necessary volume, and small speculators still think that growth will continue. In this regard, the behavior of participants has become difficult to predict, and price movements have an emotional connotation. In the current situation, it is important to exercise extreme caution when making decisions on transactions with BTC, since the technical picture does not lead to the presence of trading ideas in this asset.

Ethereum

Volatility has increased in ETH, but the uptrend continues. After the protective order was triggered, the price updated the previous maximum of the current trend. In this situation, the most appropriate strategy would be to buy within the current trend with the constant transfer of the protective order below the previous local minimum. The rollback can be used to restore the position, but if it turns out to be shallow, then it is possible to buy within the impulse approach.

Ripple

In XRP, volatility has increased markedly. The chart returned to the red line, which now acts as support. The protective order was triggered, there was no continuation of the impulse. In this situation, you probably need to wait some time with purchases and wait for the calm of emotions. In the event that a new trend starts to form from this level, opportunities for opening a long position will still be presented. But if volatility remains at high values, then the risk of trading from long at this stage may be unjustified.

EOS

In EOS, the price broke through the blue trend line. As mentioned in a previous review, there are no bright ideas in this coin. The technical picture over the past two trading days has not become clearer. The best strategy is a wait and sees attitude. Too much noise with high volatility makes it impossible to make transactions with little risk and a high probability of profit.

Litecoin

The breakdown of $72 allowed the bulls to move the price to $80, after which LTC, together with the entire market, sharply adjusted. After triggering a moving stop order, there are no new ideas either. It takes time for new patterns to form, after which new ideas will appear.

DISCLAIMER: All Content on this site is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in the Site constitutes professional and/or financial advice, nor does any information on the Site constitute a comprehensive or complete statement of the matters discussed or the law relating thereto.

Author: Marko Vidrih

Charts via Investing.com powered by TradingView and ICONOMI


ALTCOIN MAGAZINE

The best damn place to read and write about crypto and blockchain.

Marko Vidrih

Written by

I love writing, and that is why I do it. A passion for not only providing information but for helping people understand.

ALTCOIN MAGAZINE

The best damn place to read and write about crypto and blockchain.

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