The Capital
Published in

The Capital

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

September 25, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Once again, the market reminded short-term speculators of the importance of issuing protective orders. The collapse in the day, as a result of which the capitalization decreased by more than 15%, caused decent discomfort to many participants.

Image credit: CoinMarketCap

Bitcoin

The breakdown of the triangle took place, after which within a day Bitcoin lost about 15% in value. The collapse of the market is accompanied by high volumes. At one point, support was broken in the region of $9,200. Now the chart after a sharp decline is consolidating in the range of $8400- $8700. Oversold is observed at a higher time frame, therefore, continued sales in the same volumes are unlikely. Immediate support is located in the region of $8300 and $7500. There are currently no grounds for active operations. A neutral position remains the most preferable until the moment when the volatility drops to normal values, and the market has not decided on the level from which it will become possible to form a reversal pattern.

Ethereum

ETH followed the general market trend. The chart broke through the level of $202 at which a protective order was placed. After that, the “bears” took the chart to the area of ​​the values ​​of the end of the last month, practically not meeting any resistance from the “bulls”. Volatility is high, the volume has passed a lot. According to the classics, it is now possible that the beginning of the formation of a key turning point is observed, however, this may take some time, and there is no confidence in the uniqueness of such a conclusion. It is necessary to carefully monitor the dynamics and before making any trading decisions, wait until the volatility decreases to its normal values.

Ripple

XRP chart against the background of the general negative dynamics of the market broke through all possible support, falling to the values ​​of December 2017. Once again, the outsider inclinations of the coin showed up. In this regard, we can conclude that before the start of a new cycle, in conjunction with clear signs of a change in the situation, there is nothing to catch. A neutral position and observation of the dynamics from the outside will allow you to save capital, and the redistribution of the limit in favor of other cryptocurrency instruments can contribute to improving results in the next market cycle.

EOS

EOS trading is characterized by higher volatility. In addition, the coin continues to decline at the moment. Now the price is where it was in February this year. Growth for 8 months is lost in one day. All the support noted earlier was completed in less than a day, while the sales volumes are really impressive. In the current situation, it will be very difficult to determine support levels with a high degree of accuracy, therefore, it is necessary to wait for the participants to calm their emotions and bring the market situation to a more or less stable one.

Litecoin

LTC chart breaking the blue trend line, followed the market made a landslide decline, falling by 20% in two days and reaching the values ​​of six months ago. In the current situation, it is best for some time to remain out of position on the side of active actions, since all landmarks are lost, and new levels will be formed after the emotions of the participants settle down.

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 powered by TradingView

--

--

--

A publishing platform for professionals in business, finance, and tech

Recommended from Medium

Cyclos: the first-ever concentrated liquidity AMM on Solana

Hey guys!

Crypto Basics: ICO Investment

Uranium launch summary

Herding Behavior and Contagion in the Cryptocurrency Market

CRYPTOCURRENCY TRADING TIPS

DRC Update — Q4 2021

Ethereum Future is Bright, New Crypto Investors Want Bitcoin-Like Gains

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Marko Vidrih

Marko Vidrih

Most writers waste tremendous words to say nothing. I’m not one of them.

More from Medium

Market went up and down, which warriors are free surfing? | WTR exclusive 4.4

Bitcoin and the Federal Funds Rate Explained

Framing Bitcoin’s Price Plunge

Celsius Network — An Introduction