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

July 24, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Over the past two days, the cryptocurrency market has lost about 7.9% of its capitalization. Now the indicator of total market cap is in the region of $267 billion. Trades are held on low volumes with low volatility.

Image credit: CoinMarketcap

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Bitcoin

The price of Bitcoin in the last two days is falling within a narrow downward channel. As we wrote earlier, it is quite difficult to find good ideas in such a market, so you should be patient. Successful speculation itself means being out of the market most of the time. The nearest technical goal of the movement in the area of ​​a minimum of the 17th ($9,200). Depending on the nature of the price movement at a given point and subsequent trends, as well as the attitudes of the participants, it will be possible to build a further strategy.

Ethereum

In ETH, the situation is similar. The time to “collect stones” has not yet come, and therefore in this situation, the neutral position is fully justified. Chart, as well as in the case of BTC, move within the downward channel, with a target in the region of $195 for ETH. It will be possible to consider the possibility of opening a small position if there are signs of a reversal at the point of the weekly minimum, and the activity of the participants indicates their increased emotionality.

Ripple

The dynamics of XRP chart completely repeats the dynamics of BTC and ETH — a decline within the descending channel on small volumes and low volatility. The long position was covered by a stop in the breakdown of the green line. The miracle did not happen — the coin is still not distinguished by its individuality and is completely subject to the general market sentiment. The immediate goal in the area of ​​significant support is $0.29. In the area of ​​this price, it will be necessary to closely monitor the dynamics of the coin. It is possible that in the case of positive market sentiment as a whole, “bulls” will attempt to reverse the global trend.

EOS

At EOS, the chart has not yet reached the level of $4.40. Despite the fact that the long position is covered, it is worth noting the relative strength of the coin, and therefore it is worthwhile to carefully observe its dynamics in the near future. Breaking the green line may open a window to form a long position with the prospect of holding for up to several days.

LTC

A protective order set below $95 triggered. It probably makes sense to take a pause and watch what is happening from the outside. The purchase of LTC was noticeable, but the buyer could simply run out of money or decide to postpone his purchases amid a moderately negative overall market dynamics. So far without ideas, it is necessary to observe how the coin will behave in comparison with other liquid instruments of the cryptocurrency market in the near future.

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Author: Marko Vidrih

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