Is it Safe to be Invested in the Top 5 altcoins?

Welcome to a new analysis of the altcoins cryptocurrency market, with Nova Blocks trading strategy. Today, we will focus on so called "safe cryptocurrencies" from the Top 10 Altcoins.
Altcoin Analysis

Is it Safe to be Invested in the Top 5 altcoins?

Welcome to a new analysis of the altcoins cryptocurrency market, with Nova Blocks trading strategy.

Our last analysis was about Bitcoin (you can read it here) but today, we will focus on so called “safe cryptocurrencies” from the Top 10 Altcoins (by Marketcap).

Ethereum (ETH) vs USDT

ETH has dropped 35% in value since $500 USDT. Before the recent crash, it was in a clear bull market, making Higher Highs and Lower Highs.

However, it recently made a Lower Low. The bounce afterward is not a Lower High yet.

If ETHUSD drops below $300, the Lower High will be validated, and the downtrend confirmed.
The lower levels of support (where you should not panic sell) are $290 and $255.

Ethereum (ETH) vs BTC

ETHBTC is interesting to analyze. The bull market was supported by the EMA25, which is now obsolete. The recent bounce achieved to go the 0.618 Fib retracement and went back to the support level.

Despite the fact we are close to a support level, this chart is quite bearish.

Learn Trading with Nova Blocks

cover BC 2 768x1027 1

Learn More

Ripple (XRP)

Even though I am not a massive fan of XRP fundamentals, this one builds a huge bull flag close to a support level.

Volume is decreasing on the whole downtrend.

BitcoinCash (BCH)

Despite a recent pump on the market, BCH retraced quite quickly and is now back on the support.

We are due to some range in the $200 – $260 level before the market decides any direction to take.

Polkadot (DOT)

Although the coin is relatively new, DOT has been projected in the TOP 10 Altcoins quite easily. After the hype pump, it has retraced almost to post-listing levels.

If you are tempted to invest in this project, I recommend informing yourself about this project’s fundamentals. Technical Analysis will not be so much help here.

Complete Trading Guide

BinanceCoin (BNB)

One of the only major sounds relatively healthy on this market, BNB is looking ready to push higher levels.

This analysis is quite original since it uses the Pitchfork. If the price is above the median, then the median and the lower lines act as supports. If the price is below the median, then the median and the higher lines act as resistances.

I have been drawing 2 Pitchforks. In both of them, the price is between the median and the lower support. It is then considered as a buy zone.


Notice: Undefined index: words in /home/441913.cloudwaysapps.com/yxckxvgnmp/public_html/wp-content/plugins/edubin-core/widgets/latest_post_widget.php on line 95

Notice: Undefined index: tags in /home/441913.cloudwaysapps.com/yxckxvgnmp/public_html/wp-content/plugins/edubin-core/widgets/latest_post_widget.php on line 96

Notice: Undefined index: thumb in /home/441913.cloudwaysapps.com/yxckxvgnmp/public_html/wp-content/plugins/edubin-core/widgets/latest_post_widget.php on line 99
Recent Posts
Subscribe to the newsletter

Share this article on your social networks:

Share on twitter
Share on telegram
Share on facebook
Share on linkedin
Share on email

The information above contains information on the cryptocurrency market, which is associated with high risks. These materials are presented for informational purposes only and in no way should be construed as a recommendation for the purchase or sale of the assets. Any person considering trading digital assets should seek independent advice on the suitability of any particular digital asset.

Recent Posts

AllBlockchain & CryptocurrenciesTrading
Ethereum ETH explained

Ethereum (ETH) Explained

October 27, 2020

The Ethereum is a network of open and decentralized blockchains that also...

Read More
Bitcoin Explained

Bitcoin (BTC) Explained

October 27, 2020

Bitcoin is a money transfer system invented in 2009. Through a peer...

Read More
Tether USDT Tutorial

Tether (USDT) Explained

October 27, 2020

Tether (USDT) is not much different than with any other cryptocurrencies. So...

Read More
Bitcoin Technical Analysis

Bitcoin Technical Analysis – 26th October

October 26, 2020

Bitcoin broke the $13,000 level last week and is currently consolidating above...

Read More
Non-fungible tokens NFT

Non-Fungible Tokens (NFTs): A Beginner’s Guide

October 22, 2020

Non-fungible tokens (NFT) are heating up in recent times, and there’s a...

Read More
Bitcoin Technical Analysis BTC

Bitcoin Technical Analysis – 12th October

October 12, 2020

Since last week's analysis, Bitcoin broke its boring range and came back...

Read More

Receive a digest of Crypto Analysis, News & Articles every week

Receive the latest news

Subscribe To Our Weekly Newsletter

Get notified about new articles, analysis, courses, reviews and more!