Altcoin Analysis: BTC, ETH, XRP, EOS, LTC Cryptocurrency Review
May 27, 2019, by Marko Vidrih on ALTCOIN MAGAZINE
The cryptocurrency market is again at its highs since the beginning of the year. Growth is observed in almost all liquid coins. Capitalization increased by 10.7% to $269 billion, which is the maximum since August last year.
Bitcoin
BTC over the weekend added about 10% on increased volumes. After the breakdown of the highs of May 13 and 15, the conditions for the formation of a long position with acceptable risk are again created. At the moment in the BTC/USD pair quotes, there is overbought, which, most likely, will be withdrawn in the coming hours. After that, continued growth is possible. Stop-loss below the red line, and when you update the current highs will be an opportunity to increase the size of the position with the transfer of the protective order.
Ethereum
The blue trend line was slightly corrected after the correction on the market. Now quote is still below the highs reached on May 16. Therefore, we believe that it makes sense to wait for the breakdown of the red resistance line before making a decision on trading from purchases. Now the market has more understandable stories in terms of short-term speculation, so we are waiting for better conditions.
Ripple
The dynamics of XRP is still dependent on general sentiment in the market, and in terms of growth over the past few trading days, it is again among the outsiders. Despite this, the quotes did not reach the protective stop order, so the position in the coin is maintained. The goal is to reach $0.48, stop is below the blue line. You should not pin any serious hopes on this coin— at least for now. Therefore, the content of the trading idea is more of a formal nature, taking into account only the technical picture of the coin.
EOS
At EOS, the quote rushed up and came close to the current moment to the values of two weeks ago. While the probability of continuing the upward movement and return to the range, in our opinion, is approximately 50/50. If in the coming hours, the bulls will be able to keep the level and gain a foothold above the price of $6.9, a signal will appear to buy a coin for the first part of the limit.
Litecoin
In LTC, the quote, together with the market, sharply reversed and quickly passed the $96 mark, which we noted last time as the key to starting purchases in a coin. On high volumes, the bulls also managed to overcome the maximum of May 16, and now those who have been consistent have the opportunity to make a profit with a favorable scenario. While we hold the position, there are no reasons for taking profits.
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Author: Marko Vidrih
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