Altcoin Analysis: BTC, ETH, XRP, EOS, LTC Cryptocurrency Review
The cryptocurrency market again updated the maximum. The current capitalization surpasses $300 billion, which is about 5% higher than the value of the environment.
BTC dominance in the market exceeds the weight of all other cryptocurrencies together and continues to grow. The rests of the coins at the same time trying to catch up with the leader of the inertia, but at the same time, show a more or less coherent dynamics is obtained far from all.
At BTC, we once again saw confirmation of an uptrend after chart bounced off the blue line and rushed up, updating a maximum of the 17th. While the long position can still be held, however, it is worth remembering that the psychologically important level of $10,000 for 1 BTC is already very close. The further strategy will depend on how the dynamics develop at this particular point. It is likely that the first time the bulls will be hard to overcome the mark, and we will see some roll backs.
ETH broke through the level of $276 upwards, that is why right now there is an opportunity to buy coins for the first part of the limit and then increase the share in the portfolio as the uptrend develops. Despite the fact that growth is not as impressive as at BTC, the volumes on breakdown have increased significantly, so it is possible that market participants will still start buying the second most capitalized asset, which is noticeably behind the leader. At the moment there is a local overbought, after the removal of which there is a high probability of continued growth.
In XRP, the lack of understanding continues. There is a side event, and even the growth of BTC to new highs does not allow the coin to somehow rehabilitate itself in the eyes of short-term speculators. In general, this dynamic is not surprising, since, as we noted in the last review, XRP lags behind the leaders since the beginning of the year, regardless of the market phase, and it is obvious that at present this cryptocurrency tool does not cause any interest among participants. However, it is always worth remembering how quickly reevaluation and access to new levels occur in XRP. It is quite possible that for this reason, it makes sense to place orders to open a position during the breakdown of $0.47 in case the growth of the entire market continues.
At EOS, the trend line did hold, and the price again moved to the resistance area of $7.2. Here, everything in the whole strategy is unchanged — we maintain our position with the prospect of its increase in case of a red line breakdown.
LTC show slurred dynamics. It is impossible to say unequivocally what happens in a coin. It is possible that after consolidation, the bulls will again attempt to break the maximum of the 12th and this will be a signal to the new series of purchases. In the meantime, there is lateral dynamics and lack of ideas.
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Author: Marko Vidrih
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