Altcoin Analysis: BTC, ETH, XRP, EOS, LTC Cryptocurrency Review
The cryptocurrency market stays stable. On the price charts for most liquid coins, local minima were updated. This may indicate that the participants decided to take a pause and get used to current prices. The capitalization rate is $249 billion, which is the same as at the start of this week.
BTC chart continues to move sideways, while over the past two days there has been an attempt to break the blue trend line down. Such a nature of the movement makes speculators trading in machinery refrain from active actions and remain in a waiting position. While here without ideas, we observe the dynamics from the outside.
A small position in the ETH is closed on the breakdown of the blue trend line. As in the BTC, the market participants had some uncertainty about the immediate prospects of the coin. The blue line is broken, and this is a signal that the upward trend of the last two weeks is broken. However, this does not negate the continuation of growth in a longer period of time after the correction or the outset. The current development of the situation requires a choice in favor of capital preservation, therefore we remain out of position until the formation of new key points on the chart.
The position in the XRP is maintained, but the stop-loss position is already very close — below the blue trend line. Nothing interesting is noted in this coin, the dynamics of XRP chart completely depends on the mood in BTC and ETH. We will wait for any changes after the current levels have been negotiated, the participants will get used to the prices, and a new wave of growth is outlined in the entire market.
In EOS, an interesting situation develops — the formation of a downward triangle is traced on the price chart, so it is likely that we will see prices lower than the current ones in the coming days. While the figure is still being formed; To draw more obvious conclusions, it is necessary to wait.
In LTC, a small long position, opened by us based on the movement to the level of $96, is closed on the breakdown of the trend line. As in other liquid coins of the market, here at the moment, the positional advantage is more likely on the “bears” side than the “bulls”. Therefore, it is quite possible that in the near future we will see a decrease in price to the blue line. If the situation over the weekend changes dramatically, and we see a chart increase, then a breakout of $96 will be a signal for us to start buying.
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Author: Marko Vidrih
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Author: Marko Vidrih