Price Action And Relevant News For A Handful Of Coins In The Top 25 By Market Cap
Summary Of 24 Hour Price Action:
After a promising few days of upward price movement, the markets seems to be stagnating. Some analysts believe a convincing show of bullishness is needed or else we may be headed downward again.
Bitcoin
24 Hour Price Action:
- Bitcoin has moved sideways over the past 24 hours, hovering around $8750.
- Some analysts believe the price needs to move well over $9000 if it is to avoid moving down again in the next few days.
Analysts Believe Downward Movement Is Possible If Bitcoin Fails To Break $9000 Soon
https://www.coindesk.com/bitcoin-price-on-neutral-ground-bulls-need-break-above-9k/
Crypto Phil's Take:
I mentioned in my last post that I was worried we could be looking at a bull trap. Unfortunately, those fears are even greater now. However long term, I still believe Bitcoin's price will bounce back up.
Ethereum
24 Hour Price Action:
- Ethereum is virtually in the exact same spot it was yesterday, hovering around $850.
- Ethereum faces serious resistance around the $870 level but if we break above that we could see a breakout.
$870 Considered To Be A Breakout Price For Ether
https://www.ethnews.com/analysis/02-13-2018-ethereum-price-forecast-eth-usds-upside-capped-by-870
Crypto Phil's Take:
I'm still bullish on Ethereum long term regardless of every day price fluctuations. For awhile it seemed like Ethereum was starting to do its own thing by not following Bitcoin's price. However looks like ETH is back to following Bitcoin's movement. An Ethereum breakout or downturn is most likely dependent on Bitcoin's movement within the next few days.
Ripple
24 Hour Price Action:
- Ripple saw some downward movement as opposed to Bitcoin and Ethereum, currently sitting around $1.05
- Ripple's latest barrage of deals made with financial companies plus the completion of a recent market cycle hit at a return to prior highs.
Ripple Latest Financial Deals May Help It Move Upward In The Near Future
Crypto Phil's Take:
Ripple was hit particularly hard during the latest crash but it's fundamentals remain the same, if not better, thanks to the latest series of deals the payment company and coin have secured. Now might not be a bad time to stock up on XRP.
Litecoin
24 Hour Price Action:
- Litecoin is todays winner by leaps and bounds gaining 18% since yesterday!
- The price increase may have stemmed from the official release date of upcoming payments system, Litepay, being announced.
Litepay Could Be A Game Changer For Litecoin
http://bitcoinist.com/let-lite-litecoin-game-changer-litepay-released-february-26/
Crypto Phil's Take:
Although I'm still a little bearish on Litecoin long term, I have no doubt in my mind that Litepay will spark some significant upward movement in Litecoin very soon.
NANO
24 Hour Price Action:
- NANO dropped nearly 6% in the last 24 hours.
- Despite solid fundamentals, the coin is unable to shake the FUD surrounding it.
Hacked BitGrail Exchange Is Causing A Lot Of FUD To Surround NANO
Crypto Phil's Take:
The FUD around NANO is unfortunately not going away any time soon. Disgraced BitGrail exchange CEO continues to spark drama and outrage with seemingly false accusations thrown at both the NANO dev team and the underlying technology itself. And that's always bad news for a coin. That being said, now may be the best time to stock up on more.
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Please remember this all just my personal opinion and not financial or investment advice. Do your own research before spending any money or making any decisions.