Altcoin Analysis: BTC, ETH, XRP, EOS, LTC Cryptocurrency Review
September 18, 2019, by Marko Vidrih on ALTCOIN MAGAZINE
The cryptocurrency market is becoming interesting again. This time, a number of altcoins show leading dynamics. Volumes also increased, but investors do not buy everything in a row but show selective interest in assets. In the last two days, the capitalization rate increased by 1.5%, reaching a value of $271 billion.
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Bitcoin
The price of BTC as a result of the breakdown of the lower boundary of the triangle, once again appeared in the area of the blue line of the medium-term trend, originating from the last of August. This time, the coin looks clearly weaker than a number of liquid altcoins. Active operations with BTC fade into the background and give way to more interesting ideas. The technical picture indicates the possibility of buying BTC in the area of the trend line with a short stop loss. When making a decision, it makes sense for some time to review the limit of open positions in the direction of reduction. This is due to the appearance of buyers in the alts.
Ethereum
Buyers came to ETH. “Bulls”, not meeting any resistance from the “bears”, pushed the price above the level of $204. In the current situation, it makes sense to maintain a position with the transfer of a protective order to the area of local minima that are forming within the current trend. This is currently priced at $207. Despite the increased volatility, there was still no hype, although it is a hallmark of the end of most of the growing trends. At the moment, the probability of continued growth from current levels remains.
Ripple
In XRP, something happened that was mentioned many times in previous reviews — the relative “lightness” of the coin allows it to be quickly and unexpectedly reevaluated in either direction. After the breakdown of the upper boundary of the corridor at the level of $0.265, quotes rapidly increased, adding about 15% in a matter of hours and breaking another important resistance level. There were not many opportunities to increase the position size, but still, it happened. In the current situation, it is probably best to wait for some calm of the emotions of the participants, after which the picture will become more clear.
EOS
In EOS, a protective order for a breakdown of $4.00 was triggered, after which prices returned above the previous maximum. Unlike ETH and XRP, there are no strong purchases and the price rises smoothly. Clinging to growth on this trend is not so easy, there is too much market noise. It is likely that due to the presence of other understandable ideas on the market, you can wait for a clearer technical picture, temporarily reducing trading activity in this tool. In the case of a reduction of quotations to the area of the blue trend line, the ratio of profit and risk will become acceptable for opening a long position.
LTC
The breakdown of $72 signaled the beginning of purchases in this coin, therefore, at least one more technical tool should be presented in a speculative portfolio. In the current situation, everything is according to the classics — we add to the position with stop-loss protection, and then hold it until the signs of the end of the trend become obvious or until the protective stop order triggers.
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Author: Marko Vidrih
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