Altcoin Analysis: BTC, ETH, XRP, EOS, LTC Cryptocurrency Review
September 23, 2019, by Marko Vidrih on ALTCOIN MAGAZINE
Over the weekend, the cryptocurrency market showed a slight decrease. Against the backdrop of a neutral news background, the indicator of total market capitalization fell by 2.6% to $263 billion. The activity of the participants is low, volumes are medium.
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Bitcoin
In BTC, the technical picture is still not conducive to active operations. The coin is hanging sideways. There are simply no signs that the situation may change in the near future. Volatility indicators are declining, but this also does not add clarity. In case of breakdown of the upper boundary of the triangle, some changes may occur. It is necessary to carefully monitor the activity of participants at the breakdown point. It is important to consider the size of the opening position in conjunction with the overall risk of the portfolio, which can take on the speculators.
Ethereum
In ETH, the short-term trend is broken down, and the chart approaching the red support line. About weave, you can try to use it to restore the long position, as over a longer time frame trend continues. In the event of a breakdown of support, the probability of a decline to the blue trend line sharply ages T. A protective order below $202 will help protect capital and restore the position later. At the moment, ETH is no longer showing leading dynamics and is being traded along with the market. From a technical point of view, the coin looks good in order to give the opportunity to participate in the upcoming movement in case of a change in the general market situation.
Ripple
XRP chart again fell below the red line, after which it noticeably dipped over the weekend. A miracle did not happen, the impulse in the alts, including XRP, turned out to be the only and short in time. The capital conservation strategy, in this case, is fully justified. There are no ideas in the coin again and they will appear only in the event of obvious positive changes, both in the instrument itself and on the market as a whole. The downward movement occurs within the framework of the bearish channel, signs of a reversal have not yet been observed.
EOS
In EOS for the “bulls”, the technical picture is also not very pleasant for the eye —chart smoothly moves downward within the framework of the bearish channel. As supports, the levels of $3.65 and $3.44 can be made. Here, the wait-and-see attitude justifies itself, since it is not easy to find good trading ideas in the current situation.
Litecoin
LTC chart approached the blue trend line. From a technical point of view, this is the only understandable situation that we are considering, and the opportunity to buy a coin with minimal risk. In the event that a short-term uptrend begins to form from this point, it will be possible to increase the share of LTC in the portfolio.
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Author: Marko Vidrih
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