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

May 3, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The cryptocurrency market on the background of neutral news again added to capitalization, however, this time mainly due to the growth of BTC.

Image credit: CoinMarketCap

The main indicator of the market grew to $186 billion, and we believe that if other coins are connected to growth in the near future, then the chances of getting out of a long consolidation of 169- $185 billion and a quick update of the current year highs will increase.

Ethereum

In ETH, a small position is maintained, although the coin, unlike BTC, does not yet show a clear dynamic. Now the price is in the local maximum of May 30 and we believe that if the bulls can stand up and move the char at least 1% higher in the coming hours, the likelihood of a quick impulse will sharply increase, which will allow us to increase our position with the ability to place a short stop-loss order. While at this stage we remain in position and carefully observe the dynamics of cryptocurrency. Stop below the blue trend line.

Ripple

For XRP chart can be said that it stuck to the red line and cannot decide on the direction of further movement. In our opinion, in the current situation, it is more correct to wait for any hints and tips from the market, and only after that to make decisions on whether or not to include this asset in the portfolio. While the technical image looks in such a way that in order to be able to speak with confidence about the beginning of the growth phase, the chart needs to pass the level of $0.31.

EOS

The price of EOS came close to the red resistance line, the breakdown of which would open up opportunities for the formation of a long position. While it cannot be noted that there are any signs of individuality in the coin. The dynamics of the market, and on the face of a clear lag behind the market indicators of BTC in the last week. However, trading this asset, it is necessary to execute all the signals of the trading approach, otherwise, you can noticeably lose in efficiency. If in the coming hours' chart remain above $4.85, a signal will appear to buy for the first part of the limit.

Litecoin

The price of LTC has reached the key level of $75 for the second time in the last week, but so far the bullish trend, apparently, is not ready at current prices. We believe that we just need to wait for a while for the market itself to tell us the most likely direction of movement. While the trading plan is such that in the event of a breakdown of the green line, we will include a coin in the portfolio, not forgetting about placing a stop-loss order.

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Author: Marko Vidrih

Charts via Investing.com