Altcoin Analysis: BTC, ETH, XRP, EOS, LTC Cryptocurrency Review
October 9, 2019, by Marko Vidrih on ALTCOIN MAGAZINE
The cryptocurrency market has added since Wednesday. The indicator of total capitalization increased by 4.2% on average volumes and at the moment is in the region of $222 billion.
The BTC price turned around, quite a bit before reaching the lows of September 30th. But since the volumes fell again over the last day and there is no continuation of the movement, it can be said that there is interest in the coin at current levels. It is most likely of a purely speculative nature. Thus, the sidewall persists for almost two weeks. In order for the situation to somehow change, the chart needs to update the maximum reached on October 1.
ETH has already been able to update the maximum values of September. From a technical point of view, the movement continues in an uptrend, although the amplitude of the oscillations increased slightly, and the trend line after the correctional wave shifted lower. When there is a saw-shaped movement, it is possible to take a position with minimal risk and an acceptable ratio of profit to risk if the chart approaches the trend line itself. If the current correction wave is not deep, it will also be possible to open a position on the breakdown of the price of $185.
In the XRP, the upward movement, after the breakdown of the level of $0.26, continued, and therefore a number of opportunities appeared to increase the share in the portfolio. Most likely, further growth is possible only against the background of positive developments in the market as a whole and the emergence of a larger buyer. A protective order at the level of $0.27, taking into account the current volatility and holding the current share in the portfolio in this situation, may be the most correct decision.
EOS chart went beyond the upper limit of the trading range, thereby making it clear that at this stage, interest in the coin began to appear. A momentary strong impulse did not work, therefore, it is likely that the movement will develop in an uptrend. The first purchase for a part of the limit can be increased in case of a new update of the maximum of the current movement. A stop below the red line will help maintain capital if the breakdown turns out to be false.
LTC chart at the moment went beyond the upper limit of the trading range, but there was no sure breakdown. Now the price has returned to the range again, so it takes time for the participants to decide on the direction of the main trend in the near future. At this stage, you need to wait for the end of the current pullback, so that based on the depth of correction and the dynamics of market parameters, you can judge whether the participants have the strength to form an uptrend. In case of updating the high of Monday, it will be possible to form a long position in this instrument.
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Author: Marko Vidrih
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