Altcoin Analysis: BTC, ETH, XRP, EOS, LTC Cryptocurrency Review
On the cryptocurrency market in general, lateral dynamics remain. From Wednesday, the capitalization indicator added about 3% to $265 billion.
Trading volume is on average. At the same time, there is a demand in a number of coins, and the technical picture at the same time looks quite understandable, which allows us to use the situation to form the long positions.
BTC went beyond the trading range, breaking through its upper resistance. The price movement occurs within an uptrend and generally looks technically. Now there is an opportunity for a gradual increase in position with the transfer of the foot below the trend line or the level of the previous local minimum. The purpose of the movement is located in the highs of the current year — $9000.
ETH also followed the breakdown of the red line, but now the quote has been corrected again. From a technical point of view, at this point there is a good opportunity to buy, however, since recently in the coin we have already twice witnessed a false breakdown, it’s about the presence of uncertainty among the participants, and therefore, in the size of the position being opened certainly should be considered. Stop loss below the trend line.
In XRP, the situation has remained stable for a long time — the chart is still in the middle of the downward resistance. Now any active operations in this asset will be associated with a high degree of uncertainty regarding the future price dynamics. To change the technical picture, first of all, the chart needs to exit the downward line.
The chart of EOS is still locked at the outset of $6.00–6.80. From a practical point of view, it can be said that now the major market participants are laying the foundation for future growth, i.e. there is a stage of accumulation of a coin. Breaking the boundaries of the trading range will tell speculators the most likely direction of price movement in the near future. In the event of a breakdown of the upper limit of the range, it is worth participating in the growth, so we wait for the moment and closely monitor the dynamics.
LTC quote approached the uptrend line, which gives a chance to increase the position with a small risk and in case of subsequent growth, to get a good profit, which can fully compensate for all the emotional experiences of the last week related to the appearance of false breakdowns on a number of coins. Stop loss below the trend line.
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Author: Marko Vidrih
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