Eco-Living Magazine

Altcoin Market Analysis KW48 – Bitcoin Cash Continues to Fall, Litecoin Least Liked by Comparison

Posted on the 26 November 2018 by 2ndgreenrevolution @2ndgreenrev

Total market capitalization fell to $129 billion. All crypto currencies within the top 10 had to cope with heavy price losses.

Bitcoin Cash lost half of its cryptosoft rate

The price development of the ten cryptosoft currencies with the highest market capitalisation, which is stated in billions of US dollars, is shown. We are in the deep bear market. Only seven crypto currencies within the top 100 have recorded price gains. Most of these are stable cryptosoft coins that are fluctuating. As reported on 25 November, not only Bitcoin fell below 4,000 US dollars, but XRP also fell below the moving average of the last 20 weeks.

Although the market was able to recover somewhat, we are still a long way from a real market turnaround. Bitcoin Cash was hit particularly hard again - its share price has halved. Litecoin had to cope with 20 percent price losses and can therefore perform best within the top 10.

In terms of market capitalisation, this sale meant that it fell from USD 173 billion to USD 129 billion.

Looking at the charts as a whole, it's rather bearish: all assessments are negative, so that short positions are worthwhile. The "rather" in "rather bearish" is due to the small glimmer of hope that the RSI is oversold. Overall, the market is therefore currently primarily interesting for shorting. The first targets are the indicated supports, and the resistances are the stop losses.

Best crypto trader price performance: Litecoin (LTC)

To speak of a "winner of the week" sounds like a mockery, as the Litecoin course also suffered a full 20 percent losses. Litecoin is in a better crypto trader position than all other crypto currencies of the top 10, tether excluded. Nevertheless Litecoin has fallen deeply and tested a crypto trader support that was last reached in July 2017 (see left panel in chart).

The negative, but currently stabilizing MACD together with the oversold RSI gives hope. Nevertheless, the overall situation is rather bearish. With a fall below support at 28.75 US dollars, a window would open for a short position with a stop loss at 33.25 US dollars and targets at 21.90 US dollars and 17.45 US dollars.

Should the price actually crack the resistance at 36.00 US dollars, a stop loss at 33.25 US dollars as a target could target the 42.91 US dollars in a long position.

Worst price performance: Bitcoin Cash (BCH)

The price of Bitcoin Cash is still marked by the Hash War. This week, Bitcoin's little brother had to bleed a lot and lost over 50 percent of his market value. The share price is now testing a long-term support that has been in place for a year.

As with most of the other crypto currencies, the MACD is negative and the RSI oversold, so that overall a rather bearish impression is created. Currently, one should wait and see: If the price rises above the resistance at 260.32 US dollars, a cautious long position with a stop loss at 200 US dollars and a first target at 330.54 US dollars would be the obvious choice. However, if the rate falls below support at 146.80 US dollars, the rate would find depths it has never reached before. A first rough target would be 77.26 US dollars, while the stop loss could be set at around 180 US dollars.

Stability of the Top 10
Currently, the fight in midfield is very exciting: Bitcoin Cash, EOS and Stellar are only a few percent apart. Should the Stellar rate rise by five percent, a new crypto currency could take fourth place and displace Bitcoin Cash to fifth place. Very kn

Back to Featured Articles on Logo Paperblog