Altcoin Analysis: BTC, ETH, XRP, EOS, LTC Cryptocurrency Review
September 20, 2019, by Marko Vidrih on ALTCOIN MAGAZINE
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.
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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.
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Author: Marko Vidrih
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