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

May 20, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Over the weekend, the market has grown. After the correction, key turning points formed in most of the coins, which resulted in the appearance of new local trends on the charts. In this regard, good opportunities emerge for a new series of transactions when trading from purchases.

The average capitalization rate increased by 9.2% to $249 billion. The news background is neutral.

Bitcoin

BTC still maintains the status of the most technical coin we are considering. After working out the correction in the area of ​​the blue trend line and providing a number of good opportunities for the consistent formation of a long position, the price of a cryptocurrency pair moved higher. While the nearest target is in the area of ​​highs on May 14 and 15. Depending on the dynamics of prices and volumes, there will be some clarity in the area of ​​resistance. Stop loss at $7800.

Ethereum

ETH chart did not come close to the blue trend line to give an opportunity to acquire a significant share in the portfolio. However, this creates a local trend, within which the highs are updated, so there is still the opportunity to buy a little. Stop loss below $240, the closest target in the area of ​​the maximum of the 16th day ($275).

Ripple

In XRP, the technical picture is somewhat similar to ETH — the correction turned out to be quite deep, but prices did not reach the blue trend line, and therefore the profit/risk ratio did not provide us with a good opportunity to form a significant coin share in the portfolio. At the same time, a small local trend is forming, and this may eventually turn out to be a turning point for this correction, so after buying the first part of the limit, if the red line is broken, you can already look for an opportunity to increase the size of the position. Immediate goal $0.48 with a probability of an increase. Stop loss below the blue trend line.

EOS

In EOS, the price movement is also very similar in shape to the ETH and XRP charts, with the exception that the chart is currently below the blue trend line, which, from the point of view of trading practice, presumes some time pause until more certainty. At the same time, it is worth noting that the formation of a local uptrend also takes place, so if the entire market moves, the coin will not stand aside and if the maximum of 15 May is updated, there will be a good opportunity to include EOS in the portfolio.

Litecoin

In LTC, after correction, the local trend also forms above the support line, so we believe that it is already possible to gradually form a long position, while not forgetting that until recently LTC had a noticeable weakness relative to other liquid coins on the cryptocurrency market.

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Author: Marko Vidrih

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