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

April 1, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The cryptocurrency market has reached its maximum since the beginning of the current year. Since Friday, the growth rate of capitalization amounted to 2.1% to a value of $145 billion.

The news background is now more neutral or weakly positive, there is an increase in volumes in a number of liquid instruments.

Bitcoin

At BTC, the bulls were able to overcome the $4,050 mark, which had been acting as resistance for the past two weeks. It is best to place a stop in an open position in the area of ​​local minima within the emerging trend continuation formation ($4,070- $4,080), while it is necessary to take into account the possible increase in volatility at this point. At the moment, the price is attempting another update of the highs, and in the case of a successful price fixing above $4,140, ​​it will be possible to increase the share of the coin in the portfolio with the transfer of the protective order.

Ethereum

At ETH, short-term traders using the impulse approach witnessed a false breakdown of the level of resistance that occurred at higher volumes. In our case, the purchase orders worked, however, upon the return of quotations back to the trading range, the entire position, taking into account the one bought earlier, was eliminated. Over the past two weeks, the market has twice seen a false breakdown in this coin, in connection with which the conclusion about the adjustment of the current strategy, taking into account the amplitude-frequency characteristics of price movements. It is possible that the next update of the highs makes sense to skip in order to confirm or refute the assumption of changes in market characteristics. We remain out of position for this instrument until the situation is clarified.

Ripple

In the XRP breakdown of local resistance happened and the position has been increased. Now the share of the coin in the portfolio is held. Currently, the chart is moving within an uptrend, and the blue line can be used as a level for placing a protective order. Immediate goals are $0.32 and $0.342.

EOS

At EOS, it was not possible to pass resistance at the level of monthly highs from the first time; as a result, the market forced us to take profit on the breakdown of a protective stop order. We still note that there are buyers in the instrument, so after some consolidation, we do not rule out another attempt to move above $4.40. At the same time, we believe that much will depend on the overall market dynamics, therefore, in the event of a decline in the entire market, we consider the scenario of chart movement to the level of $4 per 1 EOS coin, as quite probable.

Litecoin

In LTC, the situation has not changed significantly. The chart is still in the range of $58- $62. It is worth noting that in recent days there has been a narrowing of the trading range and consolidation near the upper border. In our opinion, in case of a breakdown of the $62 mark, one can open long positions. We believe that long-term consolidation could benefit the bulls, as it allowed the coin to clear itself of impatient speculators, and for large participants to form the necessary positions in terms of volume.

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