The whole Crypto - Market saw a major increase since our lowest point in December 2018 (~100 bln. dollars), but nothing really much happened in the price of the Altcoins. We're currently at $336 bln. and only a few coins are moving, with Bitcoin leading the way. But what happens with the rest of them?
I used ICON and Wanchain as examples for this post.
Stats gathered from Athcoinindex.
ICON
- Current price: $0.34750
- All time high: $13.16
- Since all time high: -97.35 %
Short TA: Icon had a 171% gain from our lowest point in February to our highest in April. We bounced several times at the 0.618 Fibonacci retracement (of the whole movement) and are now at the 0.5, being pressed down by the 21 (yellow) and 55 day (blue) EMAs. However, we're above the 200 day MA (grey), which, could mark an important support level. Recently the MACD had a rejection at the signal line and for now it seems like the bearish Histogram is decreasing. The RSI bounced once at the lower reference line and it's currently in a descending channel, heading towards the 30 mark again.
Ctrl + Click here to enlarge the image in a new tab (steemitimages)
WANCHAIN
- Current price: $0.39393
- All time high: $9.84
- Since all time high: -95.99 %
Short TA: Wanchain had a 131% gain from the lowest point in February to our highest point in June. The 0.618 Fibonacci retracement seems to mark an important level on this chart as well. Right now we're being pressed down by the 21 (yellow) and 55 (blue) EMAs, but finding support above the 200 MA (grey), which aligns with the 0.618. The MACD is showing a pretty large bearish Histogram, but the bearish momentum seems to be decreasing lately. Also, the RSI bounced at the lower reference line (as ICON did), but it broke our most recent support at the 50 mark, heading towards lower levels.
Ctrl + Click here to enlarge the image in a new tab (steemitimages)
Bounty
Now, my questions are: when will in your opinion the Altcoins see some major price increases again? Will the snowball effect kick in again, bringing new people in the market or this time will only the top and most known crypto currencies rise?
The bounty itself isn't much, but I hope it will bring some interaction and different opinions related to the topic.
Thanks for reading!
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