The cryptocurrency markets are pretty volatile in the last couple of weeks. That is why investors are skeptical about investing at the current levels. They are using all the tools at their disposal in order to find out whether the cryptocurrencies will go up or not. Today, we will be looking into the technical details of some of these cryptocurrencies.
EOS is getting quite a few endorsements. CNBC as well recently stated that this cryptocurrency is worth buying. Also, it might get listed on Fortuna as well. This will ensure that it is able to increase its value and its market cap will also rise further. However, in the last one week, it has lost a lot of ground. That is why, experts believe that before heading higher, it will test the lows which it created on May 12.
Litecoin has lost around 18% in the last one week or so. However, experts believe that Litecoin will likely again increase above $ 180. The fall which came in Litecoin in the last one week was on the back of low volumes. That is why experts believe that it can increase even further. Also, from the start of this year, Litecoin has been gaining a lot of positive publicity. That is why many investors are positive that Litecoin will increase further.
XLM is good for remittances. The fee structure is low. The transaction speed is pretty fast. Also, it can easily scale up as well. Many of the technical analysts are recommending that it will rise to the levels of $ .50. However, the recent lows which it had were in $ .28 range.
Tron is slated to go down further to the levels of 6.5 cents. That is why investors should keep away from it and should think about short selling it. Only when they are able to do that, it will fetch them some good money.
IOTA on android devices might head higher. The lows which it created recently were around $ 1.5. According to the technical analysts, you should only go along with this cryptocurrency once it crosses $ 2.2. Till then, however, you should keep away from it.
Thus, if you’re looking to invest in cryptocurrencies, these are the few which you should look into. You need to keep in mind that not all of them are at lower rates. Moreover, you have to look at the price movement of these cryptocurrencies as well. The technical analysis which we have stated above is just opinion. You need to monitor the price levels closely. Only once you are able to do that, it will be easier for you to trade in these cryptocurrencies.
Bitcoin Cash (BCH)
Ethereum Classic (ETC)
OMG Network (OMG)
Bitcoin Gold (BTG)
Bitcoin Diamond (BCD)