Cryptocurrencies try to resist bearish trend and gradually win back the position. The weekly digital assets of the top five increased by 5-12%. Experts give cautious forecasts.
Rate analysis of the five leaders:
Bitcoin. The main support cryptocurrency is located at the level of $6416 $6271. Until the asset is trading above it, further growth is not excluded. Strong resistance is at the level of $6700 and $6780, but buying activity decreases. Adjusts its forecasts and Whether. Previously, he said that by the end of the year bitcoin will be worth $25 000, in an interview with CNBC Whether already lowered the bar to $20,000. As arguments, the analyst led: high volatility (after a sharp fall at the beginning of the year bitcoin has always risen 200-300%) and the fact that now the asset is trading below the cost of mining. During the week the price of the asset is increased by 10%.
Ethereum. Resistance is at the level of $480-485. Cryptocurrency failed, trying to break this mark, and again fell back to the nearest support line of $450. Emerges on the chart the upward channel, and if rising air continues, he will be able to overcome the bearish trend and move on. For a week the value of the asset grew by 11%.
Ripple. Break of the $0,48 (20-day moving average) could bring the cryptocurrency to the level of $0,5-0,56. While the asset is testing the resistance line without much enthusiasm. Support XRP is at the level of $0.42 and $0,44. 7 days digital asset increased by 5%.
Bitcoin Cash. The main line of resistance is at the level of $750 and $780, but the cryptocurrency couldn’t break through and went into rollback. Support Bitcoin Cash received at the level of $720 and $711. During the week the asset was able to add 9% of the cost, but buying activity was not sufficient for a breakthrough.
EOS. Despite the problems that arose after network launch, the price of the asset continues to grow. For the week the single currency has managed to add 16%, the volatility is now insignificant. EOS is trading at the level of$8.6, the nearest support is around $8,3.
The total market capitalization of crypto-currencies is $285 billion. While all indicators point to the continuation of the bearish trend. For intensive growth of the assets needed positive news, and investor activity – they still took expectant position.
Previously on this topic in the news:
26.06.2018: Why fall cryptocurrency? – 5 reasons
Last year the digital asset has grown by leaps and bounds. During the year the capitalization of the cryptocurrency rose from $17.7 billion to $613 billion, a growth of 3300%! In 2018, the virtual currency fell to a minimum, and there are 5 reasons.
5 reasons for the fall of cryptocurrency:
18.05.2018: Bitcoin is no longer popular! China has made a rating of TOP 10 cryptocurrencies
China has published a ranking of the TOP 10 most popular cryptocurrencies. Digital assets were assessed according to 3 criteria: technology, innovation, application. The results are shocking: Bitcoin was not included even in the top ten.
Considered 28 of cryptocurrency, the rating is as follows:
Ripple the Chinese are not appreciated – it is set in 17th place, Litecoin – 21, Bitcoin Cash appropriated in 25th place. Closes rating token NEM. Bitcoin modestly housed in 13th place. For innovation, he was awarded the highest score, but the development of technology of “digital gold” has failed.
Recall what your rating was and the U.S. Agency Weiss Ratings, in this bitcoin also received a low rating.
02.04.2018: 5 ways to make money in a bear market cryptocurrencies
To capitalize on the bullish market can every trader, but bearish markets – more difficult to trade they will need some knowledge.
Inexperienced traders believe that if the asset reaches the “bottom” should be patient and simply wait for the market pullback. But it’s not. If you are able to determine the trend of the market, it can earn.
The shorter the time frame deals, the faster you can make a profit. For example, on platforms Okex and Bitmex offer futures and contractsfunded every 8 hours. There are other proposals on the cryptocurrency exchanges. Beware of futures altcoins, while bitcoin is the leader, and under it adjusts the entire cryptocurrency market.
Be aware of what is happening, don’t miss the news and analyze the market – even then bearish trend will bring you good profit!