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

June 24, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

In the cryptocurrency market, we can see next update highs for this year. This time the capitalization indicator overcame the values ​​a year ago. Now its value is $328 billion, which is more than 9% higher than on Friday.

Image credit: CoinMarketCap

Growth continues in BTC, ETH is connected. In the rest of the altcoins, the dynamics are far from being everywhere, investors are still cautious, so capital comes mostly in the most liquid coins of the market.

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Bitcoin

At BTC, the price surged through a psychologically important mark of $10,000, almost without resistance, however, the volumes increased significantly, which indicates that the interest from the buyers is large and it continues at current prices. While the price is in the side range and now you can safely hold long positions with a stop at a breakdown of $10,400. The position in the trend should be fully formed, so in case of a red line breakdown, the current profit allows you to consider increasing the share of the coin in the portfolio on your shoulders, but still, this strategy is more a matter of individual risk attitudes for each trader.

Ethereum

ETH also moved higher, catching up behind the leader. There were several opportunities to increase the share of the coin in the portfolio, so for the time being, traders who exploit a trend or impulse approach have long positions that are also likely to be formed. If the free limit still remains, it can be done on the breakdown of the red line. A stop is below $300, however, due to high volatility, from a practical point of view, a reasonable decision would be to use not automatic stop, but in manual mode, using the closing prices of hourly candles.

Ripple

In XRP, in an attempt to catch up with the market, the bulls were putting up quote above $0.47, which we noted as the key to start trading from purchases. However, the continuation, at least for now, did not work out, therefore the positions are covered. The coin clearly lacks ideas for revaluation, but, as is the case with XRP, and we have repeatedly observed this — reassessment occurs sharply, unexpectedly and in relative terms can be quite significant. Therefore, to completely write off the scenario in which the bulls rush to buy everything that has not yet grown, it is impossible. It is more correct to use the opportunity in the case of another breakdown, only now quotations will need to be fixed above the value of $0.49.

EOS

After the red line breakdown at EOS, the price reached $7.6, but it didn’t work, because prices returned again below the level of purchases, and there were no obvious reasons for taking profits after the acceleration. It should be noted that while in this coin, there is also some uncertainty on the part of buyers. Many participants remember that the coin showed better results than the market from January to May of the current year, but apparently, the situation has changed. Now buyers have gone to other coins, so EOS is best seen as one of the tools needed to reduce the diversified portfolio risk. So far, without a position, and in the case of renewed growth and the formation of a local uptrend, it will be possible to look for an opportunity for a new series of purchases. In case of a breakdown of the maximum of the 22nd this month.

Litecoin

LTC still shows slurred dynamics. Attempts to break the red line have not yet led to the desired result for us. The coin remains sideways, which once again underlines the fact that investors are selectively approaching all instruments in the current market phase. While we note the absence of explicit ideas. We are waiting for the breakdown level of $143–144, after which, perhaps, we will buy.

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Author: Marko Vidrih

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