BitcoinShort
Weekly review of 10 major cryptocurrencies 21.05.18 - 27.05.18
Last week major cryptocurrencies continued to decline reaching new local minimums. Bitcoin was reaching its minimum of $ 7’211. Its share in total capitalization increased to 38,6%.
The number of billionaire-coins increased to 22 and the total number (according to coinmarketcap.com) rose to 1’624.
The total capitalization of cryptocurrencies fell to $ 326 billion.
Bitcoin decreased by 14% from $ 8’520 to $ 7’340 last week, the minimum was $ 7’211.
The local peak of around $ 10’000 is indicated. The first target of growth correction: fast-moving average of around $ 8’300 has been overcome. There was the resumption of medium-term downward trend with prospect of re-testing $ 6’500 with very realistic chance to breakout this level and to reach new many-month minimums.
Until $ 10’000 is overcome, the technical picture remains bearish.
Ethereum fell by 20% from $ 715 to $ 570 during this week, the minimum was $ 540.
Ethereum fell below fast-moving average. And low-moving average started to decrease. Now we can speak of resumption of medium-term downward trend. Support at $ 360 is very likely to resist this week. The rise above $ 800 will become a signal of growth resumption.
Ripple (XRPUSD) declined by further 14% from $ 0,70 to $ 0,60, the minimum was $ 0,57.
The key resistance zone of $ 0,9 - $ 1 turned the market. Low-moving average speeds up its fall. The further decline is more likely.
BCHUSD decreased by further 23% from $ 1’290 to $ 995 during last week, its minimum was $ 941.
The rate dove below fast-moving average.
Medium-term decline resumed. The support at $ 600 is the first target. Growth resume needs at least overcome of $ 1’300.
Litecoin decreased by further 15% from $ 139 to $ 118, the minimum was $ 113.
tradingview.com/x/hIaB1Cib/It is an obvious resumption of decline. Support and first target are around $ 100.
IOTA fell by further 20% from $ 1,83 to $ 1,46 with its minimum of $ 1,38.
The key level of $ 2,2 turned the market.
The further decline to $ 1 is technically more likely.
NEO decreased by further 17% from $ 64 to $ 53 with the minimum of $ 50.
The decline has been continuing and the first target of around $ 45 is already near. We’ll see if it stops the fall this time again.
Monero fell by further 18% from $ 204 to $ 166, the minimum was $ 160.
The decrease has already got to support at $ 160. It is likely to keep the market from further decline this week. If not, the fall to $ 80 will become very likely.
DASH decreased by further 22% from $ 403 to $ 315, the minimum was $ 306.
Bear returned to the market. The further reduction is more likely.
NEM declined by further 8% from $ 0,32 to $ 0,25 with the minimum of $ 0,25.
The sellers returned to the market and compensated the existing demand.
The further consolidation between $ 0,2 and $ 0,5 is more likely.
Wish you profitable deals!
Follow our reviews to stay in trend!
The number of billionaire-coins increased to 22 and the total number (according to coinmarketcap.com) rose to 1’624.
The total capitalization of cryptocurrencies fell to $ 326 billion.
Bitcoin decreased by 14% from $ 8’520 to $ 7’340 last week, the minimum was $ 7’211.
The local peak of around $ 10’000 is indicated. The first target of growth correction: fast-moving average of around $ 8’300 has been overcome. There was the resumption of medium-term downward trend with prospect of re-testing $ 6’500 with very realistic chance to breakout this level and to reach new many-month minimums.
Until $ 10’000 is overcome, the technical picture remains bearish.
Ethereum fell by 20% from $ 715 to $ 570 during this week, the minimum was $ 540.
Ethereum fell below fast-moving average. And low-moving average started to decrease. Now we can speak of resumption of medium-term downward trend. Support at $ 360 is very likely to resist this week. The rise above $ 800 will become a signal of growth resumption.
Ripple (XRPUSD) declined by further 14% from $ 0,70 to $ 0,60, the minimum was $ 0,57.
The key resistance zone of $ 0,9 - $ 1 turned the market. Low-moving average speeds up its fall. The further decline is more likely.
BCHUSD decreased by further 23% from $ 1’290 to $ 995 during last week, its minimum was $ 941.
The rate dove below fast-moving average.
Medium-term decline resumed. The support at $ 600 is the first target. Growth resume needs at least overcome of $ 1’300.
Litecoin decreased by further 15% from $ 139 to $ 118, the minimum was $ 113.
tradingview.com/x/hIaB1Cib/It is an obvious resumption of decline. Support and first target are around $ 100.
IOTA fell by further 20% from $ 1,83 to $ 1,46 with its minimum of $ 1,38.
The key level of $ 2,2 turned the market.
The further decline to $ 1 is technically more likely.
NEO decreased by further 17% from $ 64 to $ 53 with the minimum of $ 50.
The decline has been continuing and the first target of around $ 45 is already near. We’ll see if it stops the fall this time again.
Monero fell by further 18% from $ 204 to $ 166, the minimum was $ 160.
The decrease has already got to support at $ 160. It is likely to keep the market from further decline this week. If not, the fall to $ 80 will become very likely.
DASH decreased by further 22% from $ 403 to $ 315, the minimum was $ 306.
Bear returned to the market. The further reduction is more likely.
NEM declined by further 8% from $ 0,32 to $ 0,25 with the minimum of $ 0,25.
The sellers returned to the market and compensated the existing demand.
The further consolidation between $ 0,2 and $ 0,5 is more likely.
Wish you profitable deals!
Follow our reviews to stay in trend!
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