Jul 22, 2019
Altcoin Analysis: BTC, ETH, XRP, EOS, LTC Cryptocurrency Review
July 22, 2019, by Marko Vidrih on ALTCOIN MAGAZINE
Currently, on the cryptocurrency market side — trades are held on small volumes with low volatility. Since Friday, the capitalization rate has added 1.7% and by now it is in the region of $290 billion.
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Bitcoin
BTC chart is on the same levels as of Friday. Visually, the impression is that the coin is being traded as part of a small uptrend. In fact, in the current alignment of forces for “bulls” and “bears”, little has changed. Volatility fell to two-week lows, which suggests that emotions in the market have finally subsided, but there is currently no clear trend. From a technical point of view, when making deals from purchases within a local trend, the uncertainty remaining in the market should be taken into account when determining the size of an opening position.
Ethereum
In ETH the situation is also without significant changes. Still, everything looks like a prolonged rebound after a significant decline last week. New ideas on the side will be difficult to find, so in order to preserve capital, it may be worthwhile to maintain a neutral position until greater certainty. The speculator is faced with the task of not always trading, but earning a profit, and for this, you need to wait for a good entry point. Practice shows that after a long wait, there is a desire to do anything, traders should try more than ever to be disciplined and consistent in their decisions.
Ripple
In XRP, the rebound also continues within the local uptrend, but here, unlike BTC and ETH, this comes from many months of support, which in itself is a strong technical signal. It makes sense to exploit the current trend for their own purposes and try to increase the size of the position during the next approach of the chart to the green line with a short stop-loss position. The dynamics of the coin will largely depend on the mood in the market as a whole, however, lately, some kind of individuality in the coin is still noted. What is this — the usual technical rebound in the face of pressure on chart in the past or some fundamental changes, only time will tell.
EOS
At EOS, a trial purchase confirms the fact that the coin is no longer oversold, at least for now, so it is advisable to trade from Long within the scope of the local uptrend. The size of the position being opened is, as usual, taking into account the size of the risk depending on the entry point and taking into account the volatility. The key level in the region of $4.40 in the event that the chart is fixed above this price, it must be assumed that a further price increase will be the most likely scenario for the near future.
LTC
The upward movement in the area of $113 smoothly flowed into the outset. The protective order for the breakdown of the blue line worked, but the technical picture is such that support is now at around $95, so the risk at this point is small. At the current level, you can try to open a long position and place a protective order below the green line, taking into account the current volatility.
Author: Marko Vidrih
Charts via Investing.com powered by TradingView and ICONOMI
