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

July 31, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The market continues to “drift” in the outset. Since Monday, the capitalization index has added 1.1%, having risen to a value of $268 billion. It is always tiring to wait for all the conditions on the market to develop exactly as the system approach requires. However, the correct logic of reasoning, in this case, is most likely this — the longer we wait for the right moment, the less we have to wait for it. In some instruments, the first signs of a change in the situation and the opportunity to make the first purchase already appear.

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Bitcoin

BTC course tries to grow at medium speeds from their minimum levels of the last trading days. From a technical point of view, if the bulls can pull the price above the highs of the 28th in the region of $9,850 and gain a foothold there, then this trend will be the main one. It will have good chances for its continuation, and therefore it will be time for a new series of trade from purchases.

Ethereum

ETH remains in the outset. Over the past two days, the situation has not changed at all. It may be noted that the local level of support has formed in the region of $204. From a technical point of view, a small purchase at current prices with a stop below this level can be justified in the hope of a quick reversal of the market. There are signs of a reversal, so the purchase can be made already now with a little advance. At the same time, the size of the position should take into account the fact that for the time being these are only assumptions about the imminent reversal and much will depend on market sentiment.

Ripple

The XRP price rebounded slightly from support at $0.305 but continues to sideways and there are no obvious signs of a change in the situation. Break of the red line will be a signal to start trading from purchases. Also, the technical situation should allow making trial purchases with an acceptable profit/risk ratio, in the case of another approximation of quotations to the level of $0.307.

EOS

At EOS, the price is a bit “stuck up” in uncertainty. From a practical point of view, there is nothing to do here until price return above $4.40, since the risk of decline remains. At the same time, it is worth keeping in mind the fact that the coin was the first one we considered that updated the local high last week. This may be a sign of a major customer. If this is the case, then after the start of the upward movement to EOS, you should take a closer look. It is possible to redistribute the limit when opening a position in favor of this tool. As we remember, it happened several times already that it was EOS that showed leading dynamics.

LTC

There are some changes in LTC. Formed a new local trend. The movement is very technical, which allows you to trade from the purchase with small risk. The target above is $113, stop-loss below the blue line. The ratio of profit and risk, which we wrote about in the last review, as a necessary condition for entering the market, in this case, is observed with a margin.

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Author: Marko Vidrih

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