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

July 8, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

In the cryptocurrency market, there is a decrease in volatility in all liquid instruments. Market participants are gradually getting used to new levels. Over the weekend, the capitalization rate added about 3% to a value of $333 billion.

Image credit: CoinMarketCap

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Bitcoin

In BTC, the expected decrease in volatility to its normal values ​​can be said to have happened. The emotions of the participants have subsided, and now the price chart of the first cryptocurrency is consolidated in a relatively narrow side tick. Now it takes time for patterns to reappear on the price chart, at which the ratio of profit and risk allows you to open speculative positions. In the meantime, the technical picture remains unclear. A small short-term trend may encounter resistance at the level of $11900, so in this case, it is better to keep hold and stay away at least until the breakdown of this level. Only in case of fixing the price above the red line, it will be possible to form a small long position.

Ethereum

At ETH, investors’ view of the long-term outlook of the coin may change for the better due to the project’s plans for the issue volumes after 2021 announced by the developers. On a short time interval, from a technical point of view, the coin is in the side. The exit of the price above the high of July 3 at a good volume could be a signal for initial purchases to check the strength of the bulls, but so far has not received a boost. Chart return below the red line can be justified in this situation based on the practice of short-term trading.

Ripple

XRP price has not yet reached $0.37, so it can be assumed that from current levels, bulls will increase their activity and the line of least resistance and chart movement will turn up in the near future within a wide range of $0.37–0.49. While within the uptrend indicated on the chart by the blue line, it is possible to make trading decisions when trading from purchases with a small volume. It is worth remembering that fundamentally nothing has changed in the coin, weakness has been observed since the beginning of the year, so the size of the position of this cryptocurrency in the portfolio, of course, should take this into account. Stop-loss below the blue line.

EOS

Consolidation continues at EOS. Technically, the picture is clear and all that remains is to wait for the formation of a consolidation breakdown figure, in which, as a rule, the profit/risk ratio is the most attractive, and the price impulses are among the strongest. In the case of a breakout of $6.10, it will be possible to trade with a good volume, as this will be for many speculators a signal to change the situation and the possible start of a new wave of growth.

Litecoin

LTC chart also went into a narrow sideways with a range of changes of 3–4%. So far, the most justified in this situation may be either a very small long position in order to verify the assumption of a quick change in direction, or a neutral position with buying ideas in the event of a breakdown of the upper limit of the range.

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Author: Marko Vidrih

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