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

June 7, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Over the past two days, the capitalization of the cryptocurrency market increased by 1.2% to a value of $252 billion.

Image credit: CoinMarketCap

The volumes are average, the news background is mostly neutral. Moods have noticeably improved, and in a number of coins there are signs of the formation of key pivot points, but unequivocal conclusions can be made only after some time, and in the event that buyers increase their activity.

Bitcoin

In BTC chart, the technical picture is noticeably clearer. For the last three days BTC has twice tested the mark of $7,500. On the chart, a trading range has been formed with the boundaries of $7,500- $7,900, the output of which will show us the direction of further price movement. In case of breakdown of the upper boundary, a new opportunity will appear for the formation of a long position. If the quote break through the lower limit of the trading range, then a further decline to $7,000 is more likely.

Ethereum

A similar situation in the ETH. Quote has not yet been able to confidently break through resistance and gain a foothold above the red line. A downtrend line runs alongside, so if the price leaves the range and breaks the blue trend line, the window for trading from long will open again and you can make your first purchase with a short stop loss position. While out of position, we follow the dynamics.

Ripple

In XRP, the quote is moving in a downward and is currently going to the area of ​​$0.44 as part of a short-term upward movement. It’s difficult to make money trading from long, since the main trend is still downward, and the coin is not only completely dependent on general market sentiment, it is still one of the outsiders since the beginning of this year. However, short-term movement occurs within the trend indicated by the green line, and if the quote reduced to a level acceptable in terms of the profit/risk ratio, you can try to open a small long position with a stop loss below the green line.

EOS

After a decline of almost 30% from ATH, EOS quote found the bottom at the moment. Now the price movement is also in the trading range. The boundaries of the range are indicated, and going beyond it will indicate the most likely direction of price movement in the near future. The coin has undergone sales and at the moment clearly lagged behind the market. In the event of a breakdown of the green line, you can open the long to the first part of the limit with a short stop loss, increasing the position as the trend continues.

Litecoin

The dynamics of LTC quote has changed dramatically, the coin shows the dynamics better than the market. Price returned above $106, which served as a signal to start buying. The current breakdown of the downtrend line confirms the uptrend and allows increasing the share of the coin in the portfolio with a stop loss below the blue line.

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Author: Marko Vidrih

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