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

March 27, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

On the cryptocurrency market, a number of coins have tended to rise in prices, but positive changes have so far affected not all liquid instruments. Investors act very selectively, choosing the best quality assets.

Since Monday, capitalization has increased by 0.7% and is currently in the region of $141 billion.

Bitcoin

From Monday, BTC quotes managed to update the local minimum, dropping to $3,900, and then return to the $4,000 area again. The nature of the movements indicates the rapid change of opinion among the majority of participants regarding the future behavior of the market. From a technical point of view, the coin is in the side and, as we wrote in previous reviews, the trading strategy at this stage should take this fact into account. To change the current trend to positive, the BTC/USD pair needs to be fixed above the value of $4,050.

Ethereum

A breakdown of the downtrend blue line occurred at ETH, along with this, the price for the last two days clearly worked out a local technical figure “double bottom”. All this, together with the growth of volumes, are signs of the emergence of a large buyer and may contribute to the growth of quotations. However, since the participants can count only on movement within 5% to the nearest resistance, and the current risks are comparable to the potential profit, it is worthwhile to pay close attention to the size of the position being opened. Technical signs of the beginning of a new wave of growth now provide a good opportunity to open the first part of a position with the possibility of increasing the share in the portfolio, in case of a breakdown of resistance $144.

Ripple

In XRP, a scenario occurred, about which we wrote many times — quotes approached support around $0.30, after which the level line was punctured with a sharp increase in volatility and volumes, and after some time the quotes returned to the range. This was an entry signal with a growth potential of about 10–15% and a relatively small risk. Now we hold a long position, and as the trend develops, we will look for points on the chart to increase the share of XRP in the portfolio. Based on the characteristics of the current impulse, to protect profits, you can use a trailing stop by moving it to the break-even point.

EOS

The breakdown of the upper boundary of the triangle was not unexpected, although we assumed that the formation of the figure would continue for some time. The breakdown took place on increased volumes and opened the window for the formation of a long position. The immediate target for the current impulse is in the February highs area ($4.40). To protect the position, it is better to use a sliding stop order, but correctly from a technical point of view, it is possible to place it only below $3.8.

Litecoin

LTC tried to break through resistance, but quotes failed to consolidate above the red line. As a result, the price again returned to the level of support in the region of $58. From a technical point of view, our view of the current situation does not change — in order to trade from purchases, you should see price fixing above $62. So far, the behavior of the coin does not reflect our expectations, which makes us think about a possible revision of the look at this instrument within the framework of a longer period of time.

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Author: Marko Vidrih

Charts credit: CoinMarketCap, Investing.com