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

May 15, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The upward movement continues on the cryptocurrency market. Since Monday, the capitalization index has grown by another 15.5% and is currently at $245 billion.

As we wrote in the last review, the accumulated pent-up demand entered the market and so far it looks like the rising wave is probably still that time will go on.

Bitcoin

The breakdown of a maximum of $7,500 took place, after which the upward movement in BTC continued and yesterday the coin was able to test $8,400, which is the maximum value since July last year. As we wrote earlier, in this case, it is advisable to use a portfolio of strategies. This approach improves trade performance and allows for a smoother movement of the capital growth curve. We continue to trade in the direction of the trend, using partial unloading of the position and its restoration, depending on the removal or approach of the chart to the trend line. Stop below the blue line.

Ethereum

The dynamics of ETH have changed noticeably, more and more participants are joining the upward movement. The movement goes with some acceleration. Technically, it was possible to buy at breakdowns of the highs with the transfer of the foot. Due to the fact that the market periodically there is a need for the redistribution of capital in the direction of stronger tools, in connection with which we temporarily reduced the size of the limit in ETH in favor of BTC. Now the situation has changed and the technical picture in ETH indicates that a certain personality appears in the coin, which should be used to extract maximum profit. We look forward to the formation of a new key point of continued growth and the subsequent breakdown or reduction of the chart on the blue line, which in both cases will give us the opportunity to open a new position with a small risk.

Ripple

At XRP happened exactly what usually happens in situations where the coin has long lagged behind the leaders. We wrote about this in one of the past reviews that asset revaluation can be very fast. Being under pressure from buyers for a long time, XRP for two days, breaking through a maximum of 11 numbers, grew by 30% and continues its upward movement at high volatility and large volumes. In such a situation, if the positions are open, it makes sense to hold them as long as possible with a trailing stop, since the movement can continue and be very strong for a while, and show a sharp reversal.

EOS

EOS was again among our leaders in terms of participation in this wave of growth and allowed us to pull out the portfolio for profitability, at which it can be said that the opportunity was not missed. Throughout the movement, we left a long position and the market made it possible for several hikes to increase the share in the portfolio to the maximum possible. Now all that is required is to control the size of the position. Stop below the blue line — partial unloading on a moving foot or take profit.

Litecoin

In LTC, the chart cannot yet move significantly above the red resistance line. However, the situation when a coin lagging behind leaders for a long time catches up with them in a few hours, as we see from the situation in XRP, it is quite likely on the cryptocurrency market. In the event that the pair can consolidate above the red line in the coming hours, we will try to open a long position on the first part of the limit with a stop in case of return of chart below the red line.

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Author: Marko Vidrih

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