SAN FRANCISCO, Calif. – This sentiment analysis presents most cryptocurrencies treading the downtrend path. Nonetheless, with the growing interest of prominent global investors like George Soros and the Rockefeller family in virtual currency investing, a repeat of the glorious year 2017 is anticipated.
The following analysis provides an idea of cryptocurrencies’ current performances:
1) Bitcoin (BTC/USD)
A downbeat outlook goes to the crowning glory of the cryptocurrency world. Bitcoin’s trading price is apparently unable to cease from dropping, trading at $6,766.56 at the time of writing. Buying is recommended if its price increases through more investors.
2) Ethereum (ETH/USD)
Ethereum is on a struggle to maintain a high price. Currently trading at $399.51, this sentiment analysis recommends a wait-and-see position prior to buying.
3) Bitcoin Cash (BCH/USD)
Strong buying is still anticipated for Bitcoin Cash. A positive outlook is foreseen if its price goes north of $780.
4) Ripple (XRP/USD)
Recovery is far from sight for Ripple due to listless buying. Trade can only be recommended if Ripple’s price closes north of $0.56270.
5) Stellar (XLM/USD)
Since January, Stellar has been trading inside the channel. At $0.197418, trades are recommended after a close and a breakout above the resistance line.
6) Litecoin (LTC/USD)
The initial support of $114.706 was made for Litecoin though its recovery was interrupted at $126. More buyers will help Litecoin stay north of the downtrend line.
7) Cardano (ADA/BTC)
A sharp rising triangle pattern is formed with Cardano’s trading, completing a breakout above 0.00002460. A long position is recommended on a breakout and close north of 0.0000246.
8) Neo (NEO/USD)
A pullback was reached recently for Neo with the bulls holding on to $44 levels. The neighborhood of $65 level is a recommended buy for this digital currency.
9) EOS (EOS/USD)
EOS attempted twice to break out of the descending channel but to no avail. Buying is recommended at $7.5, leading to a rally to $11 levels.
Apparently, most of the cryptocurrency prices are relentlessly moving downward. This sentiment analysis tells that this trend can be reversed by getting more investors or buyers to set their sights on cryptocurrency investing.