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

June 28, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The cryptocurrency marketcap after it updated the maximum and reached the level of $386 billion, showed a rather sharp decline.

Image credit: CoinMarketCap

As a result of the correction, the capitalization indicator lost more than 16% of the maximum or about 11% compared to the values ​​of the environment and is currently in the region of $334 billion. The activity of the participants is high, the volumes are noticeably higher than the average.

We are going to launch our Altcoin Hub Index Fund very soon. So you will be able to invest from as small as $10 to unlimited funds in a secure index fund where real professionals will trade and manage your portfolio for a small (3%) yearly fee.

You will also be able to have a live view of how your portfolio is doing and exit any time you want.

Stay updated and don’t miss the chance to invest in private Altcoin Hub Index Fund — only 100 positions are available!

Bitcoin

BTC chart closely approached the price of $14,000 per coin, but the technical overbought factor that we wrote about in the last review, although with a delay, still had its effect on the cryptocurrency dynamics. As a result of the correction over the last one and a half trading days, we saw a noticeable decline in quotations to the levels, from which the last growth wave started on the 25th. Anyway, the growth was impressive, at the moment it was possible to trade even with increased risk. Now the price is close to the support level and the trend line, so it is possible to once again form a long position due to the prospect of recovery of price.

Ethereum

ETH as a whole repeats the dynamics of BTC, so here we saw profit taking at higher volumes. Now the chart is on the trend line, so from the point of view of the profit/risk ratio, there is a good moment to partially restore a long position. It is premature to talk about full recovery, since it is necessary that some protective margin is formed for this position, and thus the idea of ​​restoring price is confirmed. Stop-loss below the trend line, but necessarily adjusted for high volatility.

Ripple

In XRP, the bulls tried to break through the level of $0.49, but the negative dynamics of the entire market changed their plans, as a result of which the price quickly returned to the level of $0.40 and still, as before, we don’t see any interesting ideas in this coin. From a technical point of view, the monthly outback is observed in the coin, from which it does not work out to either side. In that case, if from the current levels we see the emergence of a local uptrend, then certainly we can try to play this. The main thing is that the profit/risk ratio should be at an acceptable level and always remain under control.

EOS

In EOS, not only the trend line but also the level of monthly support is broken down on the price chart. Now, when the price is at mid-May values, it is necessary to carefully evaluate all possible risks. Recovery of the price is likely, however, for a long time we have seen weakness in relation to BTC and ETH, therefore, the formation of a position is possible only in case of obvious signs of growth. First of all, it is necessary that the chart return above the green line and there are signs of the formation of a new uptrend. So far without a position.

Litecoin

LTC price also broke through the trend line and now the closest support level is around $102–103. Whether the price goes there or not will depend on the overall market dynamics. While there are still no ideas here, there are tools on the market with a clearer technical picture.

DISCLAIMER: All Content on this site is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in the Site constitutes professional and/or financial advice, nor does any information on the Site constitute a comprehensive or complete statement of the matters discussed or the law relating thereto.

Author: Marko Vidrih

Charts via Investing.com powered by TradingView