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

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On the cryptocurrency market, BTC stands out against the background of a continuing outset in most assets. Due to the growth of this asset, the capitalization rate updated the highs from the beginning of the current year.  Market cap showing a 3.3% decrease compared to yesterday and it stays almost the same as on Monday  – $177 billion.

The news background is generally neutral, the volumes are average.

Bitcoin

Bitcoin, Ethereum, Altcoins - Cryptocurrency Review - 04/24/2019
The dynamics of the rate of Bitcoin to the US dollar (BTC / USD)

BTC chart was able to overcome the $5,400 mark, which opened up the possibility of increasing the existing position and trading from purchases already within the framework of the impulse approach. Conditions have now been formed for the transfer of the protective order to the level of $5,450, while in the case of updating the maximum of $5,600, we can talk about the continuation of the trend and another series of purchases to increase the share of this asset in the portfolio.

Ethereum

Bitcoin, Ethereum, Altcoins - Cryptocurrency Review - 04/24/2019
Dynamics of rate Ethereum to US dollar (ETH / USD)

ETH is still in the middle of a wide range of $154- $184. At the same time, there is another local resistance ($176) on the chart, which could not be passed once again after the buyers tried to pull the price up, following the dynamics of BTC. In the media, more and more often there are reports that some projects are starting to use other blockchains for their platforms, therefore the dynamics of ETH chart well reflects the news background around this cryptocurrency. From a technical point of view,  there are no conditions for action here, so we should stand aside and temporarily redistribute capital in favor of other instruments.

Ripple

Bitcoin, Ethereum, Altcoins - Cryptocurrency Review - 04/24/2019
Dynamics of Ripple rate to US dollar (XRP / USD)

In XRP, the technical picture is unchanged, the chart has already tested support at $0.317 several times. In my opinion, in this situation, it is more correct to keep a small position with a short stop below the green line, and only if we still see the formation of a new local trend, think about more active participation. A coin does not show any individuality for a long time, so much in the dynamics will depend on the general mood in the market.

EOS

Bitcoin, Ethereum, Altcoins - Cryptocurrency Review - 04/24/2019
Dynamics of EOS to USD (EOS / USD)

EOS chart at the moment found support at $5.05, but the presence of sellers is felt, which creates pressure on prices with the probability of their further decline to support in the $4.9 area, which is the lower limit of a wide trading range. While here without ideas. It is necessary to monitor the dynamics, and in the case of the formation of convenient points for entry, look closely, depending on how the conditions in the market as a whole develop.

Litecoin

Bitcoin, Ethereum, Altcoins - Cryptocurrency Review - 04/24/2019
Dynamics of Litecoin to US dollar (LTC / USD)

LTC chart broke through support, which triggered short-term speculators to launch protective orders and liquidate our position. In this case, the bears were stronger. Until the formation of new key points, I prefer to stay away from operations with this coin, since the very fact of updating new lows is a clear sign of a weakness that has appeared.

Charts via Investing.com
Featured image via Pixabay

About the author

Marko Vidrih
Marko Vidrih

Marko Vidrih was born in Slovenia and has always been fascinated by the worldwide economy and evolving technologies, such as Blockchain. With his background in finance and gained knowledge he decided to share information with others and became a freelance writer.

Marko Vidrih is selected as a TOP writer at Medium.com in topics Investing, Finance, and Bitcoin.

You can contact the author via [email protected]

Marko Vidrih By Marko Vidrih