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Altcoin-market analysis – Litecoin defies sell-off

The entire market capitalization has fluctuated in the last week to US $ 250 billion. Within the Top-10, a mixed picture for the week shows accordingly the end.

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Altcoin-market analysis – Litecoin defies sell-off

The entire market capitalization has fluctuated in the last week to US $ 250 billion. Within the Top-10, a mixed picture for the week shows accordingly the end. As the currency Bitcoin suffered to Litecoin, most of the Top 10 Altcoins double-digit losses. Only the BCH competitor to Bitcoin SV only lists discounts, low Rates. The purchasing power for new-year highs seems to be in the market at least temporarily stopped, and another breath is needed, it should slide in the Bitcoin price below the 7400 mark. However, some Altcoins from the second and third row have values of price on increases.

From Stefan Lübeck
10. June 2019BTC$assets 7,952,00 2.78%part Facebook Twitter LinkedIn xing mail

The positive Trend of the last few weeks is seen in the higher units of time, a total of (still) intact. Even if it came after the sharp rally in the last month, this week, to further profit-taking may keep the overall market remains above the 200 billion US dollars. So far, it is only a consolidation to overbought conditions in the market. As in the last couple of weeks, most of the Litecoin-price true strength, and asserts itself as the only crypto currency within the Top 10. Also Bitcoin SV shows a small decline of 3 percent relative strength.

The market capitalization falls back to a new high for the year last month at the beginning of the week to below US $ 250 billion, can be removed, however, by the end of this week from the lows and currently holds relatively stable at 248 billion dollars.

The course of developments in the Top 10 Coins are to be considered this week as mixed. The rate estimates have on the larger units of time, mainly to continue a bullish Outlook for the coming week. Litecoin and Binance Coin to offer overall, an interesting upward trend. Litecoin benefits from the announced Halving, which reduces the Reward factor in the Litcecoin Mining by 50 percent. Binance Coin benefits, however, continue to be of ongoing interest to the launch pad and the Initial Exchange Offerings (IEO) and consolidated at a very high level in the vicinity of the all-time highs.

Best price development: Litecoin

As in the previous week, Litecoin is still strong and can chalk up this week as the only Altcoin is a Plus. After a Retest of the exponential moving average of the last 20 days, as well as the horizontal support, and the super trends on the daily chart at 98 US dollars at the beginning of the week, the rate can keep stable to about 110 US dollars. The week offers a depth of 100 US-dollars is now a good support, but also the rise and since the 7. June current consolidation above the 100 US Dollar suggest a strong upward trend.

the RSI and MACD is slightly bearish signals. The RSI and produced lower highs, the MACD has also turned to Short and sends in the daily chart easy sell signals. The upper Bollinger band on bends, however, and offers space for higher courses. The top of the Resistance at 122 US dollars thus limited. In the case of sustained break of this brand, the old horizontal resistance areas at 144 US dollars and in the medium term, 172 U.S. be enabled Dollar as the objective of the course. Here is a breakout trade of the week's highs with a Stop at offers Loss at 106 US dollars.

Below is the Support at 98 US dollars support now, a break of this brand would have a bearish character and this could mean a price drop for the super trend at 77 US dollars, or even a Retest of the horizontal support at $ 70. At rupture of 98 US Dollar would thus also be an interesting Short scenario with Stop Loss at 107 US dollars available. Overall, the Litecoin offers Chart a bullishes , and higher rates are also due to the announced Halvings at the beginning of August, in the coming weeks, probably.

Worst course development: EOS

After the EOS-rate together with the increase in the overall market, a strong Performance, consolidated the rate disproportionately. The extent to which lasts for the correction, choice is made in the area of $ 6. Currently, the trend from the daily chart and the Support Zone is based in this area of the Super from the last two months of the course.

The RSI as the MACD in the daily chart have a last character, and should sound a note of caution. A break of the Support in six US dollars on a daily basis would be to value bearish and could discounts other Rate up to the exponential moving average of the last 200 days at 5,10, US Dollar or even to the may low at 4.40 in the US Dollar mean. Here is a close Short Trade with Stop-Loss would be to hedge above the 6,80 dollars. The defense of the 6-US-Dollar-brand and a re-attack of the Resistance at 7.50 US dollars, however, should offer in the medium term, further upside potential on the Long side. Here is a Long Position would thus be interesting with Stop Loss at just under 5,60 dollars and Targets at 7.50 US dollars and to 8.68 US dollars.

the stability of the Top 10

The market capitalization of the Top Coins fell this week almost without exception. As for the rankings, has led to the strength of Litecoin in the last time to climb to rank 4. In this case, the "digital silver has been able to overtake" both EOS as a Bitcoin Cash in the capitalization.

winners and losers of the week

This week, a mixed, but overall positive picture with regard to the Top 100 Coins offers. Occasionally, there are strong price gains, but also some of the Coins have the Run of the last few weeks springs. On average, the Top 100 Coins to move slightly above the previous week's levels. The winner this week, with a temporary rate increase of 98 percent of the relatively unknown ERC20-Coin Solve.Care. The IT company behind the Utility Token has as its goal an improved transparency of the price structure in the health sector. Another winner this week, with 43 per cent of the course plus the Stratis platform-based Hyper cash Coin, the advances with a market capitalization of well over $ 93 million on place 73. The loser of the week is with Factom (FCT), however, an old Acquaintance, Factom are in the week over the course of 15 per cent. It is considered one of the Top 100 altogether, one sees, however, that a total of more winners than losers are present.

The Bitcoin-dominance is currently 55 percent, almost at the previous week level, however, has a minimal tendency. Overall, you have to constatieren that as long as the BTC sets the tone, the Altcoins follow Bitcoin's the majority. With a few exceptions, such as LTC can outperform the Altcoins the Bitcoin only selectively. Currently you can not speak, therefore, of an Altcoin rally on a broad Front.

Disclaimer: The information on this page is the illustrated rate estimates do not constitute buy or sell recommendations. They are merely an assessment of the analysts.

The chart images have been using trading view created. To be considered, the value pairs BSV/USD and BSV/USD

USD/EUR exchange rate on the cut-off: 0,88 euros.

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