The positive trend of the last weeks is still (still) intact in the higher time units. Although the strong rally last month this week has led to another profit taking, the market overall remains above $ 200 billion. Until now, it is simply a consolidation aimed at reducing overbought conditions in the market. As in recent weeks, the course Litecoin is particularly effective and asserts itself as the only cryptocurrency of the Top 10. In addition, Bitcoin SV displays a relative power with a manageable minimum of 3%.
Market capitalization dropped below $ 250 billion at the start of the week after peaking last month, but could reach a trough by the end of the week and is currently relatively stable at $ 248 billion. of dollars.
The performance of the top 10 coins is considered mixed this week. Price estimates for most longer periods continue to have bullish prospects for the coming week. Litecoin and Binance Coin continue to offer an attractive overall uptrend. Litecoin continues to benefit from the announced halving, which reduces Litcecoin Mining's reward factor by 50%. In contrast, Binance Coin continues to benefit from sustained interest in the Launchpad and Initial Exchange (IEO) offerings, consolidating at a very high level, close to the record level.
Best price evolution: Litecoin
Like the week before, the litecoin is still strong and this week is the only Altcoin a plus. After retesting the exponential moving average of the past 20 days, as well as the horizontal and superset trends at $ 98 earlier this week, the price can now hold above $ 110. Not only is the support of $ 100 a week good, but the rise and consolidation above $ 100 since June 7 augurs a steady upward trend.
On the other hand, the RSI and the MACD give slightly bearish signals. The RSI falls slightly and produces highs down, the MACD is now also on short and sends to the daily chart of light sales signals. However, the upper Bollinger Band is more flexible and offers room for more advanced courses. So the upper limit resistance at $ 122. If this mark breaks, the old horizontal resistance ranges are capitalized at USD 144 and USD 172 in the medium term as a price target. Here's an epidemic of the week's high with a $ 106 stop loss.
Below support the now support at $ 98, a violation of this mark would be bearish and could mean a fall in the super trend at $ 77, or even a $ 70 retracement of the horizontal support. If the $ 98 were dissociated, there would also be an interesting scenario of $ 107 in the short term. Overall, the Litecoin chart offers bullish Image, higher prices are likely in the coming weeks, also due to the halving announced in early August.
Worst performance: EOS
After the strong performance of the EOS price and the rise in the overall market, the price is consolidating disproportionately. The extent of the correction will now be decided in the $ 6 range. For the moment, the trend of the daily chart and the support zone for the last two months supports the price in this zone.
The RSI as well as the MACD in the daily chart have a bear Character and should warn. A break from support Six dollars a day would be bearish and could fall further to the exponential moving average of $ 5.10 for the last 200 days, or even the May low of $ 4.40. Here, a tight trade with a stop loss above 6.80 USD would be covered. The defense of the bar of 6 dollars and a new attack on the resistance at US $ 7.50, however, should offer additional upside potential over the medium term. This would be an interesting long position with a stop-loss of just under US $ 5.60 and targets at US $ 7.50 and US $ 8.68.
Stability of the top 10
The market capitalization of the largest coins has almost decreased this week. As for the ranking, the strength of Litecoin has recently led to a promotion in fourth place. The "silver digital" has surpassed both EOS and Bitcoin Cash in capitalization.
Winners and losers of the week
This week offers a mixed but positive overall picture of the top 100 pieces. From time to time, large price increases have been recorded, but some pieces have also had to leave feathers after the race of the last weeks. On average, the top 100 coins slightly exceed the level of the previous week. This week's winner, with a 98% gain over the interval, is the relatively unknown ERC20-Coin Solve.Care. The computer company behind the utility token is set to improve the transparency of the price structure in the health care sector. Another 43% gain this week is HyperCash based on the Stratis platform, which ranks 73rd with a market capitalization of more than $ 93 million. The loser of the week with Factom (FCT), however, is an old acquaintance. Factom is down 15% during the week. Looking at the top 100 total, we realize that there are more winners than losers.
The dominance of bitcoins is currently around 55%, almost at the level of the previous week, but shows a slight downward trend. Overall, it should be noted that as long as the BTC sets the tone, Altcoins basically follow Bitcoins. With few exceptions, such as LTC, Altcoins can selectively outperform Bitcoins. Currently, one can not speak of an Altcoin rally on a broad front.
Disclaimer: The price estimates shown on this page do not constitute buy or sell recommendations, but simply an estimate of the analyst.
The images in the chart were created with the help of TradingView. The BSV / USD value pairs on binance.com and BSV / USD on binance.com are considered
USD / EUR Closing price: 0.88 euros.
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