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

May 13, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Almost all liquid altcoins over the weekend showed good growth. The market capitalization rate grew by almost 11% to $212 billion.

BTC is still the leader of the movement, the rest of the coins are more likely pulled up by inertia, however, in a number of coins, the volumes have noticeably increased, which may indicate that the accumulated deferred demand, under favorable circumstances, can move the charts even higher after correction.

Bitcoin

The uptrend continues and over the weekend, the BTC/USD tested the $7,500 mark. After almost a month of sawing movement, the most patient and consistent traders get a well-deserved profit. There is nothing new in the impulse itself, so the trade is conducted according to the classics, however, right now there is a regular correction due to the fact that at the moment of chart received a significant acceleration and was in the overbought zone for a long time. While the positions are temporarily covered, there is some uncertainty regarding the continuation of growth in the near future. For new speculations, we are waiting for confirmations in the form of the formation of a new key point and a breakdown of the maximum or a smooth decline in price to the trend line.

Ethereum

ETH has also grown on good volumes, but amid the BTC in the dynamics of the coin, the uncertainty of the participants is felt. Chart reaching a psychological mark of $200, rolled back to the level of support. This pattern can be used when opening a speculative position with a short stop, but due to the fact that we have chosen to redistribute capital in favor of coins with brighter dynamics, we are temporarily out of position. It is possible that in the case of a deeper correction, as the chart approach the blue trend line, a good entry point will appear.

Ripple

In XRP, it looks like the participants are trying to win back missed opportunities in other cryptocurrencies and simply buy something that has not yet risen in price. Such decisions are usually emotional and in most cases lead to the opposite of expected results. The coin shows weakness for a very long time. On higher time frames, this is clearly visible. Internal corporate events are already in the price, but there are no new drivers. Due to the fact that currently there are coins with less risk and a more understandable technical picture, we believe that the activity in XRP can be temporarily reduced as much as possible.

EOS

The exit from the triangle to the top nevertheless took place, which, against the background of a general wave of positive, allowed the coin over the weekend to show good forward dynamics compared to most other liquid coins. The breakdown was confirmed by volumes and a large green candle, which allowed speculators using the pulse approach to jump into the departing train, although at that point the risk did not allow taking a decent amount at the entry point. Position size is small. We are waiting for new features. Stop below $5.20.

Litecoin

LTC chart reached $92 during the impulse. However, now, after the formation of the double-top figure, some doubts arise in the continuation of growth in the near future. It is necessary to wait for the resolution of the situation. The opportunity to open a position with an acceptable profit/risk ratio may appear in case of a breakdown by chart of the previous maximum.

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Author: Marko Vidrih

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