Altcoin market update - ETH, XRP, LTC, EOS and more
Looking at the altcoins market we can clearly see some improvement since last week. All of the coins that take part in the Top 10 list on CoinGecko and also on CoinMarketcap registered two-digit increases for the period and partially recovered from the losses. The total market capitalization (excluding Bitcoin ) rose by 18 percent and now stands at $64.2 billion.
What you are seeing on the screen is a consolidated chart of the leading majors excluding BTC and USDT. As you can see the next heavy S/R is in 20 percent distance from where we stand right now
- The Ethereum Project token ETH remained flat on Saturday, March 21 and continued to hover around $133. On Sunday, it made a step back to $120, losing 9 percent of its value. The coin remained flat for the seven day period.
What we saw on Monday, March 23 is a confirmation of the current short-term uptrend, started on March 16. The ETH/USD pair rebounded from the horizontal support at $120 and preserved the upward movement by climbing up to $136. In the early hours of trading on Tuesday, the ether is extending its gains to $143 aiming for the zone between $145-$150.
Looking for confirmation above $150 and a potential continuation to $175 after a proper consolidation is in place. We are slowly going back into the golden middle of the indicator, but fundaments and especially the BTC influence might impact our setup here. Down, it is the current support at $120, then the last visited low at $108 that is supposed to react to bears pressure.
- The Ripple company token XRP had a relatively calm session on Saturday at the start of the March 21-22 weekend. It closed with a small gain to $0.158. On Sunday, March 22, the coin returned back to the zone below $0.15 after suffering a decline to $0.147. It registered a 4 percent loss on a weekly basis.
The start of the new week was quite positive for XRP as it followed the general crypto market trend and moved up to $0,158, clearly in an uptrend. The good performance is being continued in the early hours of trading on March 24 as the ¨ripple¨ is chasing $0.17.
Although we in a simple uptrend, in the long-term there is a very obvious in which the coin is currently trading.
Bulls will have to push for a break of $0.17, which will set the ground for an attack of the sub-$0.20 zone. Bears, on the other hand, will put a high pressure on to get the price back down to $0.145-$0.15 area.
- Litecoin (LTC) broke up from the formation on the 1h chart yesterday and is now looking for confirmation above $40.
- EOS ( EOS ) - the situation is exactly the same here. Basically all leading altcoins are findings themselves near important S/R lines. For EOS , it is $2.5