Ripple’s XRP is further solidifying its second place on the crypto market rankings while Ethereum keeps hovering among the worst performers. EOS on the other side is chasing the 4th place, not so much on its own merits, rather thanks to the disintegration of BCH.

Here are couple of TA from couple of more experienced Tradingview traders.

EOS was taking Bitcoin Cash 4th position but not for long and back today at its the 5th place.

Considering the longer-term perspective, EOS/USD is capped by DMA5 at $3.55. Once it is cleared, the recovery may be extended towards the next crucial resistance at $4.30. On the downside, the support is created by Sunday’s low at $3.08. Potentially, the collapse may be extended towards 2.0 and 1.9, which is the lowest level since December 2017. 

Ethereum -9.17% seem to have completed the h&s on the weekly chart and has broken down. Next stop on the weekly chart is around the 45usd mark. From here to the 45usd mark, there is no support. If you look at the day chart however, you will see some support. To me, I look at the long term and the day chart is used for day/swing traders. If that is you, good luck as you can still make money shorting.

If we look at the longer picture on the monthly chart, we see that the h&s formation can still happen. On the monthly chart, if we look carefully and if it does form a h&s pattern, then we are looking at a price of 8usd and then jumping back up to around 15usd and then making another correction to the 8usd mark. From there, I am hoping that the trend will reverse and a bull run will take place. XRP After the low ($ 0.329), which was in November, the Ripple market segment shows a 21% recovery. The XRP / USD rate on Monday was 0.3399 phi in higher in the line-up on BitFinex. At the same time, the market capitalization of the coin reached almost 15.61 billion dollars. USA, replacing Ethereum -9.17% to become the second largest cryptocurrency in the world. However, its stability is not guaranteed at the moment. In the worst case, this could be a bear pennant shape, which indicates a continuation of the current downtrend. At best, XRP can advance to the extended upward recovery action, given its least bad cryptocurrency during the bear run, which shook the entire cryptography market.

At the same time, 0.329-fiat provides decent support in accordance with the daily base. Earlier, the level witnessed purchases and promised to keep bears with several bulls. A gap below 0.329, on the other hand, can be devastating, as this will lead to the collapse of XRP / USD to the next potential deficiency of 0.268 phi. This level has provided strong support since August.

The narrowed version of the XRP / USD rate chart gives us more information about how we could trade intraday. At the moment, the pair is clearly aiming at 0.966 phi as its intermediate resistance, leaving the foot at 0.371 phi, temporary support for the rest of the day. We look at XRP / USD in the opposite direction from a simple 200-period moving average on a 15-minute chart. This gives us good opportunities for temporary support. At the same time, placing a stop loss at 0.390 phi will protect our position from maximum losses if the upward correction resumes. It remains only to wait for the continuation of a breakthrough over temporary resistance. If this happens, we will enter a long position in the direction of 0.402-fiat as our intermediate target target, while maintaining a stop loss of $ 0.93.

Information here contains forward-looking statements that involve risks and uncertainties. it’s not in any way a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions

The post Ripple (XRP) solidifying its lead over Ethereum (ETH) while EOS chases 4th spot of the crypto market rankings appeared first on CaptainAltcoin.

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