Altcoin Analysis: BTC, ETH, XRP, EOS, LTC Cryptocurrency Review
September 16, 2019, by Marko Vidrih on ALTCOIN MAGAZINE
In the cryptocurrency market, instruments show multidirectional dynamics. This time, there is a noticeable recovery in a number of altcoins, while BTC remains sideways. The indicator of total market capitalization since Friday added 1.1% and is in the region of $267 billion.
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Bitcoin
BTC chart of the last three trading days went sideways. The activity of the participants decreased. Volatility indicators updated two-week lows. From a technical point of view, the price continues to move within the medium-term uptrend. In this case, the figure of the ascending triangle is formed on the chart. In the event that a breakdown occurs at the price of the red line, it will be possible to open a long position in the first part of the limit.
Ethereum
In ETH, some time ago, noticeable stability of chart was observed. This ultimately resulted in outstripping dynamics in relation to the market as a whole. The chart broke through resistance at $185 and is currently continuing to grow. The purpose of the movement of the current wave may be resistance at the level of $204. In this situation, it is logical to stay in position and move a protective order depending on the nature and amplitude of the price movement.
Ripple
The bulls moved relatively quickly on increased volumes to a resistance level of $0.265. After that, the XRP chart rolled back again. Another time to break the resistance failed. It is worthwhile to carefully monitor the dynamics since it was this particular coin in the past that differed noticeably from other liquid cryptocurrency market instruments in its sharpness and unexpected movements. In the event of a breakdown of $0.265, a window will appear for opening a long position in the first part of the limit.
EOS
EOS chart updated its maximum from September 9, giving a signal to open a position and confirming the presence of a medium-term uptrend. From a technical point of view, it is now more correct to hold a long position (with a stop loss in case of breakdown of $4.00), increasing it in size as the impulse develops with the transfer of the protective order.
LTC
LTC chart remains sideways. A buy signal may appear either in case the price approaches the blue support line or on the breakdown of resistance at $72. Some recovery in altcoins has not yet affected this coin to the extent that we can talk about a noticeable change in the situation in technical terms. But there is a medium-term trend. With a favorable external background, LTC may also show positive dynamics in the near future.
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Author: Marko Vidrih
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