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

August 26, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

In the cryptocurrency market, there is complete uncertainty regarding future trends. As a result, lateral dynamics lasts for almost two weeks. The capitalization rate since Friday rose by 1.5% to $269 billion.

Image credit: CoinMarketCap

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Bitcoin

Over the weekend at BTC again without any significant changes. The price is at the same levels as on Friday. An analysis of the situation reveals continuing uncertainty. From a technical point of view, a short-term upward channel has developed. However, on a longer time slice, there is no need to speak of a pronounced tendency. In such a situation, the shortage of new trading ideas still persists. The neutral position is probably the most reasonable based on trading practices. During such periods, the foundations of future strong movements are usually laid on the market. It is important to save capital and patiently wait for the right moment.

Ethereum

ETH also does not show any signs of a change in the situation. Lateral dynamics and periodic bursts of volumes indicate mixed moods among the participants. Below is the trend line, and above is resistance at $204. Of course, there is a small place for maneuver. It is worth remembering that in such a market as it is now, waiting without a position is much easier than waiting for your price while in a position. This is not the case when a rapid revaluation brings the portfolio to the plus and there is a margin of safety. In this situation, the best solution may be to wait for the best opportunities.

Ripple

Looking at the XRP chart, by and large, there are no questions. We all remember the relative weakness of the coin for quite some time. Recently, there are signs of a change in this situation, which have not yet been confirmed. The observed price range of $0.255–$0.292 has been going on for almost two weeks now. For speculators with a relatively low-risk sensitivity, it is possible to trade within the range, both in the formation of a short-term trend and in the case of chart approaching the lower border of the trading range. However, for those who can wait and prefer to act for sure, to start trading from purchases, a more significant argument is needed. For example, a breakdown of resistance at $0.292.

EOS

In EOS, the sidewall continues in the range of $3.44- $3.78. Exit from this range will indicate the direction of the main trend in the near future. In the meantime, the conditions for future movement are only being laid. It is nevertheless more correct to minimize participation in the coin, which has already been mentioned more than once in past reviews. The dynamics of the pair is subject to general market sentiment. It is a little embarrassing that a relatively large number of experts are still waiting for some revenge from altcoins after they have lagged behind market leaders in recent months.

LTC

In LTC, the situation is similar to EOS. Several long tails led to an increase in volatility indicators. This is not indicative, however, in the tools of the cryptocurrency market, the average capitalization has not been a rarity lately. Price moves in the trading range. Support is at $70; resistance is around $78- $79. The technical picture at the moment is such that for speculators practicing the impulse approach, the coin is likely to become interesting to buy only in case of a breakdown of the red line.

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Author: Marko Vidrih

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