Market shed away $18 billion in 4 days and we are back at square one which seems to be the $200 billion market cap. Most of the coins mirror each other both in increases and declines of prices. The only one which tends to make independent jumps and dives is XRP, probably because the Ripple company has the largest budget for marketing and is constantly in the news with more or less significant partnerships and updates.
Let’s see the outlook for these 3 coins in the short-term analysis from couple of traders from tradingview.com.
What you'll learn 👉
Stellar Lumens – XLM
Stellar generated a lot of buzz with the release of StellarX, a GUI that enables interaction with DEXs. The news was met with lots of approval across the whole community and it especially heated the hopes for XLM holders. However, those were in vain, as the XLM price left stuck in the channel it was the whole year.
It pumps, it dumps, and it also consolidates. For each hype cycle it is reasonable to expect lower volatility because of increasing liquidity (=more market participants). Based on this I believe the bottom for stellar is already in, and we’re simply waiting for BTC to move up.
Litecoin’s existense is seriously questioned in crypto circles – the value proposition is outdated and a lot of people talk about Litecoin as a very expensive bitcoin testnet. Of course, Charlie Lee disagrees with that but he lost the trust and respect of litecoin community when he sold his stack at ATH. The price was similarly depressive and the overall feel with litecoin is cloudy.
LItecoin Looking to retest the 200MA, at the moment this could be a risk as the market seems to be falling. But MACD has crossed slight towards buying power, RSI is oversold and LTC is ready to push out slightly, Holding a support of $52 which has held well for the time being, but it has been tested a few times of the last few weeks.
Swell conference was hyped to the skies and it partially delivered on its promises. Aside of the former president’s blather, there was actual substance presented on the conference – mostly the xRapid going live and 3 banks taking it for a spin. The price jumped up and down but when the dust settles, XRP keeps landing at the same spot it started off from. But for short-term, day traders – XRP is surely one of the top choices in this prolonged, boring bear market.
Price Action. Supply & Demand . Price Pattern.- Price could be heading up to 0.45 area based on price pattern breakout. Overall Bullish market flow, price is correlated with BTC which is also bullish .
– From there we could have consolidation -> continuation to the upside if buyers are able to maintain control.
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Sarah Wurfel works as a social media editor for CaptainAltcoin and specializes in the production of videos and video reports. She studied media and communication informatics. Sarah has been a big fan of the revolutionary potential of crypto currencies for years and accordingly also concentrated on the areas of IT security and cryptography in her studies.
