Weekly Technical Analysis (14.08.17)

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 weekly 14.08

This has been a great week for Bitcoin ‘HODLers’. They believed in Bitcoin during the hard fork and here’s their reward. There were speculations earlier this month which claimed that Bitcoin will cross the  USD $4000 mark by end of year but the milestone was achieved quite early. Bitcoin now trends in the range of  USD $4100. 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 $70,344,345,000
  • Circulating Supply: 16,506,325
  • Volume(24h): USD $2,489,090,000

2. Ethereum:

Ethereum this week touched the USD $300 mark. It is a relief for Ethereum holders who endured the highs and lows in the past month. Investors who want an entry could wait for a bit as seller resistance seems more strong at this point. Once it falls to your ‘happy price’, you can enter and happily stay invested.

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

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

  • Market Cap: USD $28,021,869,780
  • Circulating Supply: 93,994,008
  • Volume(24h): USD $905,213,000

3. Litecoin:

ltc weekly 14.08

Litecoin has been trending at around USD $40 for quite some time now. Seller resistance is winning the tug of war.  One could anticipate the prices to go further down before the next rise. We are still observing a lot of potential in Litecoin which makes it a good coin to invest in.

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

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

  • Market Cap: USD $2,290,503,027
  • Circulating Supply: 52,465,882
  • Volume(24h): USD $158,629,000

4. Ripple:

Ripple 14.08

Ripple is currently trending at USD $0.16 which has a stable floor since the past few days. Again we would like to point out that Ripple has managed to be the star performer of 2017 with the growth of almost 4000% this year. Q2 growth of 2017 is beyond 1000%. 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:

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

  • Market Cap: USD $6,501,118,020
  • Circulating Supply: 38,352,642,160
  • Volume(24h): USD $207,367,000

5. NEO:

NEO 14.08

NEO has literally skyrocketed this week. It was a great week for NEO enthusiasts. USD $18 seemed quite a price this time last week. Now we have hiked all the way to USD $42 after a short descend from USD $50. Risk/reward ratio turns out to be 1.53 which is not a very bad number. If buyer support wins, prices will start soaring again from this point.

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

  • Optimal Trade Entry(OTE): 0.00985612 -0.01033047 BTC
  • Market Cap: USD $2,201,305,000
  • Circulating Supply: 50,000,000
  • Volume(24h): USD $338,073,000

Information sources-

www.coinigy.com
www.coinmarketcap.com

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