Weekly Technical Analysis 26.08.2017

www.tradescrypt.com’s Weekly Technical Analysis gives investors important insights on fundamentally strong cryptocurrencies which include Bitcoin, Ethereum, Litecoin, Ripple and AntShares(NEO).  It’s a quick read for investors at the start of the week which presents necessary statistics which could prove vital for considering investment position and making decisions during the week.

1.Bitcoin:

BTC-analysis-26.08.17.png

In spite of the seller resistance, Bitcoin has managed to stay above the USD $4000 mark which seems as the newly established floor. Investors have got in on 23rd and 24th when the prices were just above USD $4000. Bitcoin is currently trading at USD $4300. Investors who want to get in must wait for a short dip which we expect to occur in a few days.

Following are the statistical conclusions drawn from this week’s technical analysis:

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Note: Prices have changed significantly. Once the new floor is set, we can calculate the OTE and the risk/reward ratio.

  • Market Cap: USD $71,638,083,124
  • Circulating Supply: 16,527,225
  • Volume(24h): USD $1,503,230,000

2. Ethereum:

ETH-Analysis-26.08.png

Ethereum is gradually recovering its position which was lost during the Bitcoin fork period. It is trading at USD$330. Investors have entered on 24th and 25th when it was trading at around USD$320. We recommend this price as the OTE for the week which would ensure a good Risk/Reward ratio.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Market Cap: USD $31,766,976,757
  • Circulating Supply: 94,270,460
  • Volume(24h): USD $551,820,000

3. Litecoin:

LTC-analysis-26.08.17

Litecoin has crossed USD $50 mark. Investors who still want to get in must wait for a dip and get in at the blue buying region which would increase the Risk/Reward ratio significantly. Refer to our Litecoin fundamental analysis to understand the potential of the coin.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Optimal Trade Entry (OTE): Around 0.00004650 BTC
  • Market Cap: USD $2,893,886,049
  • Circulating Supply: 52,646,932
  • Volume(24h): USD $325,010,000
  • Risk/Reward Ratio: 0.64

4. Ripple:

XRP-analysis-26.08.png

Ripple was trading at USD $0.16 which was a stable floor since the past few days. With the current price at USD$0.20, Ripple has displayed a growth of 25% even after the correction. With strong fundamentals and growing community, invest and hold is our recommended position. Risk/Reward Ratio for this would be significantly higher than our recommended threshold.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Optimal Trade Entry (OTE): Around 0.00004650 BTC
  • Market Cap: USD $7,866,239,162
  • Circulating Supply: 38,343,841,883
  • Volume(24h): USD $177,526,000

5. NEO:

NEO-analysis-26.08

NEO has set a new floor of USD $35. We have observed a correction after NEO soared to USD$50. Risk/Reward Ratio at this point are greater than our recommended threshold. With strong fundamentals and growing community, invest and hold is our recommended position.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Optimal Trade Entry(OTE): Around 0.00867554 BTC
  • Market Cap: USD $1,901,680,000
  • Circulating Supply: 50,000,000
  • Volume(24h): USD $41,663,900

Information sources-

www.coinigy.com
www.coinmarketcap.com

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