Altcoin Analysis: BTC, ETH, XRP, EOS, LTC Cryptocurrency Review
From Wednesday, cryptocurrencies from the TOP-10 by capitalization showed multidirectional dynamics. As before, market sentiment is based on the behavior of BTC. The main market indicator added only 0.4% and is currently in the region of $270 billion.
It may interest you to know that Altcoin Magazine, with its intention to expand its services, has launced a private Altcoin Magazine Index Fund. This crypto fund was created such that anyone interested will be able to make an investment that is as low as $10, and as much as the person can afford, in an index fund protocol that is secure, and one where there will be real professionals on hand that will help investors perform trades, as well as help them ensure that their crypto portfolio is properly managed for a token fee that is an annual payment of 2% and 5% of positive performance fee.
Furthermore, it is imperative that you know about the added feature that lets you monitor and track the activities of our professional trader with your portfolio. This tracking can be done with the aid of the Altcoin Analysis that gets published on the Altcoin Magazine website. This publication will be made 3 times/a week.
Interestingly, and as a way to take the stress of trading off you, you will be able to get live feeds about your portfolio, as well as its performance, and thus it gives you an idea about the trades and the attitude of the portfolio at the time. This feature is made available on your desktop, or betterstill, users can utilize the ICONOMI mobile app to check.
Altcoin Magazine has succeeded in making crypto investment easier for anyone, hence, this is the time to get involved with the Altcoin Magazine Index Funds, and begin to enjoy the profitability that comes with crypto investments. Do not miss this opportunity to have investments in the Altcoin Magazine Index Fund, because there are only 100 slots available. Have you kept thinking about how to join the crypto community as a crypto investor, then this is for you, because there are several benefits attached.
Only invited can invest, so if you want to be one of them, reserve your spot by reaching out to us on email@example.com.
The correction turned out to be short. At the moment, BTC chart trying to break through the resistance at the level of $10.750- $10.800. If the “bulls” manage to gain a foothold above this mark, the likelihood of a further impulse increases significantly. This opens up the possibility of starting the formation of a new long position. In this case, it is very important to wait for a confident breakdown, since volatility has increased in recent days, so the probability of a false breakdown has increased.
In ETH, after the protective order for the breakdown of the red line was triggered, the chart reached the trend line and then reversed. From a technical point of view, an uptrend is developing. Therefore, there is a good opportunity to participate in the upcoming growth, which may take place against the backdrop of the emergence of a common market positive. Stop loss below the blue line, the position increases gradually as the trend develops.
XRP once again returned to the level of $0.255. The protective order was triggered to close the position when the blue line is broken. Analysis of the current dynamics allows us to conclude that the complete uncertainty in this coin remains. Participants do not want to buy XRP without fundamental changes, as the coin has been weak since the beginning of this year. From a technical point of view, to start trading this instrument, you need a confident trend, but so far this has not happened.
In EOS, the price again reached the trend line. It would be possible to buy a little with a short stop loss, but it should be borne in mind that the growth potential is limited by resistance at $3.45. Nevertheless, it is important for “bulls” to gain a foothold above this level before we can talk about a confident change in the trend. Investors in EOS fully act with an eye on the dynamics of BTC. At this stage in the development of the cryptocurrency market, the trend may persist for a long time. EOS is a direct competitor to ETH and in the long-run has additional chances to gain an advantage if the latter continues to lose ground. Moreover, the creator of the Ethereum network said that the blockchain is almost completely filled and expressed its concerns about the scalability of the project.
The protective order was triggered, after which the chart dropped to $64 for 1 LTC. Now it all depends on the mood in the market as a whole. From a technical point of view, if at this stage an uptrend will form in the coming days, a new opportunity for trading from long will appear. In the meantime, at this point in the market, it is advisable for some time just to observe the dynamics without taking any active actions.
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