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Cryptocurrency Price Analysis: Bulls Appear to Rule the Market

The cryptocurrency market is full of uncertainties and surprises, after a sharp surge in the price of Bitcoin, the whole crypto market changed following the footsteps of Flagship currency, Bitcoin, all significant altcoins observed a brisk growth in their prices. Though in the past few days, the total crypto market cap dipped piercingly and experimented critical support near $210.0B, with range moves in bitcoin (BTC) and Ethereum (ETH). Altcoins such as LTC, ripple, bitcoin cash, EOS, TRX, and stellar gradually improving.

Here is our analysis for five altcoins, which will be expected to grow, five altcoins to watch this week are -:

Ripple (XRP/USD)

After breaking the resistance of $0.38 on Tuesday, ripple has taken a bullish leap and is moving upwards, to preserve its bullish drive, ripple must maintain its grip above this resistance level.

A look at the daily chart reveals that bulls are grappling to retain $0.38 mark, the next target for Ripple is $0.50. But, if the price of XRP could not sustain, it might accelerate bear to drive as low as $0.30.

EOS (EOS/USD)

After breaking the resistance of $6 and counting, EOS is enduring strong in the market. The bullish momentum has triggered an inverse head and shoulders breakout on the daily chart.

Looking at the daily price chart of EOS/USD, EOS will trigger a bull rally with an initial target of $10, only if bulls can connect this breakout, EOS would have completed a technical reversal. If it happens there will be no turn back.

Cardano (ADA/USD)

The Next Coin where bulls are shaking their fist is Cardano, after converting it’s $0.06 resistance into its support. The analysis pointing out that Cardano will further continue this process and turn its resistance of $0.07 into support.

The Daily chart of ADA/USD indicates the initial target of $0.10 if Cardano can climb above $0.07 and uphold its position.

Ethereum Classic (ETC/USD)

Following the market trend, Ethereum classic is strengthening its support to break out the resistance level of $8. The successful violation of the resistance will trigger the breakout from a large cup and handle pattern on the daily chart.

Looking at the technical chart of this coin, the best is to buy at breakout of $8, and the future breakout target is $12.

Qtum (QTUM/USD)

Otum makes up to this list after breaking out from an ascending triangle pattern and the potential breakout target of Qtum is $3.

Looking at the daily chart of QTUM/USD, Qtum will eventually escape the resistance. The bulls have triggered this coin more than five times in these few months which resulted in a sharp decline in supply. The best proposal is to buy after a break of $3 as support. Target prices are $3.70 and $5.

 

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About Steve Anderrson

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

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