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

August 28, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The sidewall in the cryptocurrency market has been maintained for two weeks now. With an almost complete absence of fresh news, volumes fell markedly. Since Monday, the indicator of total market capitalization has lost 2.2% and dropped to $263 billion.

Image credit: CoinMarketCap

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Bitcoin

In BTC without significant changes. Against the background of low revs, chart approached the lower border of the upward channel. The risk at this point is relatively small, but the growth potential is limited by the movement of 5–6 %. For speculators practicing a trend or impulse approach, new trading ideas on the horizon of the next few days are still not visible. In the event of a breakdown of the lower boundary of the channel, we will probably see an increase in volatility. After that, it will become possible to make some forecasts depending on the behavior of the asset price in the area of ​​two-week lows. In the opposite case, the saw-shaped sidewall may last some more time.

Ethereum

From a technical point of view, at ETH is also nothing new. The sideways pattern remains, prices at the moment are on the trend line. For traders from the levels of speculators at this point, it is possible to open a small position with minimal risk. It is worth remembering that the potential of the movement is limited. The main trend manifests itself in the form of a saw-shaped sidewall. It is relatively not difficult to open a position, place a protective order and indicate the purpose of the movement. It’s much harder to calculate the trajectory and wait for the result. This is not at all the case when a movement has a pronounced tendency. For this reason, a neutral position in the current environment may still be the most justified.

Ripple

The price continues to drift in the lateral range. In anticipation of chart going beyond this range, it is advisable to observe the dynamics from the side while being out of position. For traders who use the impulse or trend approaches, a window will open for purchases in the event of a breakdown of resistance at $0.292.

EOS

A similar situation in EOS — chart remains in the lateral range of $3.44- $3.78 for almost two weeks, volumes are reduced, the activity of participants has fallen. In this regard, you should wait for the breakdown of the upper border of the trading range and then you can start trading from long. Up to this point, uncertainty is too high.

LTC

The sidewall is saved. Range $70- $78. LTC may become interesting to buy, in the case of passing the cost of the upper limit of the trading range. The sidewall has been going on for almost two weeks. It is not possible to see how long it can still last. If we add a little philosophy to our reasoning, we can definitely say the following: the more we expect good opportunities, the less we have to wait for them because sooner or later they will appear. From which it follows that the wait-and-see strategy, in this case, is probably the most convenient for short-term speculators.

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Author: Marko Vidrih

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