Will bitcoin pull the altcoins higher, or will the altcoin rally indicate that the retail crowd is jumping in and a short-term top is close by? Let us see what the charts of the top five performers of the past seven days project.
One of the world's top cryptocurrency exchanges, Binance, was hacked and 7,070 in bitcoin was stolen from its hot wallets.
ETH/USD.While ether volumes on decentralized applications hit a new high, the number of new DApps deployed on-chain is at a low, close to 2017 levels, according to crypto analytics firm Diar.
The breakout of the ascending triangle can push the price to $256.08, above which a move to $300 is probable.
Such a move will invalidate the breakout of the bullish pattern, which is a bearish sign.
Traders can buy above $370 and keep a stop loss of $260. Please use only 30% of the usual position size for this trade: if the cryptocurrency struggles to breakout of $400, traders can quickly raise the stop loss to reduce the risk.
The LTC/USD pair has formed a cup and handle pattern, which will complete on a breakout and close above $91. This will have a minimum target objective of $158.91, but the momentum can carry it to $172.647 levels.
The traders can buy on a breakout and close above $91 and keep a stop loss of $65. The moving averages have completed a bullish crossover and the RSI is in the positive zone, which suggests that the bulls are in command.
Our bullish assumption will be negated if the price fails to breakout and sustain above $91 and drops below $65. In such a case, a fall to $40 and lower is possible.
If the bulls breakout of the 50-week SMA, it will signal strength and can gradually move up to $120 and above it to $150. Conversely, if the bears sink the pair below $60, it can retest the lows at $38.5.Traders can wait for the price to breakout and close above $81 to initiate long positions.
Top 5 Crypto Performers Overview: BTC, ETH, BCH, LTC and XMR
gepubliceerd op May 11, 2019
by Cointele | gepubliceerd op Coinage
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