Altcoin Analysis: BTC, ETH, XRP, EOS, LTC Cryptocurrency Review
The cryptocurrency market has become boring again. Volumes have fallen markedly, and the quotes went to the side.
Although the capitalization rate since Friday added 6.2%, this was due to a rebound after the correction at the end of last week.
In BTC, the bulls were able to keep the price above the blue line. Trading volumes are still low, so in this phase of the market, most likely, a small long with a stop-loss below the trend line will be the most reasonable position in terms of market speculation. In the case of the breakdown of the blue line, it will be possible to make more accurate conclusions about whether it is time to take a pause and again temporarily step aside. To change the technical picture of the chart, it will now be necessary to break through its 2019 maximum on May 30.
The dynamics of ETH quote does not have any clear focus and, against the background of low volumes, it seems that market participants took a pause to overestimate the situation, get used to prices and wait for the moment when it will be possible to generate new ideas. As we wrote in the last review, the immediate goal, which is seen in the current situation, is around $230 per 1 ETH, so for now, just watching everything happening from the outside. The situation may change if the price reaches new levels higher than this year maximum of 30 May.
A small local uptrend has emerged in XRP. At the weekend, the bulls felt more confident here than in BTC and ETH. However, now we will talk about possible purchases only after the coin quote break through the level of $0.48. For the time being, we simply note the fact that in the short-term period there is a slight change in the mood and views of investors on this coin. About what is behind such changes, it will become clear after some time.
EOS showed different dynamics from other liquid coins, having updated the highs since the beginning of the current year after correction. Now the chart is back again — below the blue trend line. Like in other coins, here while out of position, we observe the dynamics from the outside, but at the same time, we keep in mind the relative strength of the coin until the recent past.
LTC quote is in the side with the boundaries of $105- $120. Now the exit from the trading range will be a signal for participants regarding the direction of further movement. While we are out of position and also, like in other instruments, we are waiting for the onset of some certainty.
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Author: Marko Vidrih
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