📈Crypto Outlook 📈: Altcoin to watch in September| Ethereum(ETH)& Ripple (XRP)

Altcoins Rally Incoming?

With BTC being stagnant for now, the altcoins seem to have another plan in mind — which they seemingly are seen heading north. Most of the altcoins are in the green, while big names such as XRP & XLM are making double digit gains, leaving BTC in dust. Here are some of our analysis.

Ethereum (ETH) Technical Analysis

ETH has been rising steadily amongst the recent altcoin rally. This bullishness has allowed ETH to decisively break above the psychological resistance of $200, which will likely prove to be a key support level in the near term, and any continued bullishness amongst altcoins will likely allow Ethereum to post significantly further gains in the coming days and weeks.

Traders that are looking to join the trade, should enter within the range of $195 — $205 with a stop loss of $185. Near-term resistance would be at $242 and $275 before revisiting $300 barrier. With the current bullish sentiment amongst altcoins as well as the upcoming Devcon conference in less than a month time, ETH is likely to continue its bullish run upwards.

Ripple (XRP) Technical Analysis

XRP has seen significant gains close to 18% in the past week as we are seeing XRP possibly breaking out of its downtrend. Based on our technical analysis, XRP is trading within a descending triangle where it is highly probable to break towards the upside. Currently, XRP is trading at $0.3 and we are looking at a conversative target of $0.4.

Trend of XRP during September 2018

An interesting trend that we have observed in 2018 around the same period was where XRP was experiencing a mega bull run which saw the XRP move over a whooping 90% over a short time frame of 9 days as seen from the diagram above.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Tokenize Xchange. Every investment and trading move involves risk, you should conduct your own research when making a decision.