Altcoin Analysis: BTC, ETH, XRP, EOS, LTC — Cryptocurrency Review

April 19, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The outset remaining on the market for more than two weeks does not allow participants to increase their activity, which is why we see falling indicators of volatility and trading volumes.

At the same time, the decreasing news flow also does not add new trading ideas, which is why we see a high probability that the current dynamics will continue in the coming days. The capitalization rate from Wednesday rose by 1.2% to $178 billion.

Bitcoin

BTC chart remains within the trading range and, moving in a trend, continue their smooth ascent to resistance around $5,400. Thus, over a longer period of time, the consolidation process has been going on for more than two weeks. As before, we believe that small purchases within a trend can be justified only at points where the risk is minimal, i.e. when approaching chart to the trend line itself. For more aggressive purchases, conditions are still being formed, so this will become possible only if the upper limit of the trading range at the level of $5,400 is broken.

Ethereum

ETH after the rebound from the support continued the upward movement. Within the local trend, as well as in BTC, it is possible to make small purchases with a short stop. The likely target is in the resistance area ($184). Over a longer period of time, our view of the technical situation does not change — the chart line is within a wide trading range with borders of $154- $184.

Ripple

In XRP, there is a situation of uncertainty about the direction of further movement of quotations. Prices returned above the support line, however, against the background of the dynamics of a number of other cryptocurrencies, this did not happen very confidently. You can see the formation of a local uptrend, so you can try to open reasonable in volume long positions with a small stop if the chart approaches the blue line.

EOS

EOS, like other cryptocurrency market heavyweights, remains sideways. The chart is moving within the trading range of $4.90- $5.90, which was formed after the rapid growth at the beginning of the month. You can buy in small volumes from the blue line with a stop below the trend line itself, or do nothing and wait for clearer signals in the form of reaching the upper or lower border of the trading range. Due to the fact that at the present time the technical picture of the most liquid instruments is approximately the same, and the dynamics of a single coin, by and large, depending on the overall market dynamics, for short-term speculation everyone chooses his own tools based on personal preferences.

Litecoin

In LTC, the strategy does not change — we remain in a small long, and in the case of a breakdown of the red line, it will be possible to increase the share in the portfolio. Technically, the coin looks promising.

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


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