Investments in altcoins are become increasingly popular these days. A stop of price fallings and the sideways trend which is peculiar to the most popular altcoins now shows the new trend among investors.
Prices for these cryptocurrencies remain more stable today than ever before. In the context of global financial instability, traders are leaving the traditional assets and prefer to buy cryptocurrency. Cryptocurrency, today it is the most promising way to preserve and increase their savings.
The pair USD/ETH has shown a stable position for a fourth day already. Buyers succeeded in making the trend bearish.
On the 30-day chart we can see that the USD/ETH exchange rate after the previous decline from $20.5 is firmly entrenched in the corridor of $10- $15. Will buyers have the power to get out of this corridor? Time will tell.
Investor confidence in ETH is growing every day. Today we expect the continuation of the sideways trend while there is a lack of positive economic news. The support level for ETH today: $10.20. Resistance level: $11.40.
USD/ETH chart last 30 days (June-July)
The LTC price today stays at the level of $4.11. Buyers and sellers have taken a pause. Litecoin owners are in no hurry to sell LTC and expect the resumption of its growth. But today’s cryptocurrency market is calm and we see a sideways trend due to the small volume of trading on the major exchanges. LTC support level today is $4.0, while the resistance level is $4.20.
USD/LTC chart last 7 days (July 6 – 12)
The USD/DOGE exchange rate continues to decline, but still continues to hold on in the corridor between $0.00026 - $0.00028.
The DOGE price was decreasing since June 19, when the USD/DOGE price was $0.00033089. This reduction over less than a month is due to a fall in the world markets. We can expect the resumption of DOGE price growth only with the growth of the main cryptocurrencies.
However, today the level of support is $0.00024, the resistance level is $0.0003.
USD/DOGE chart in last 7 days (July 6 -12)
The growing popularity of altcoins and persistent crises in the world’s financial markets will force investors to reconsider the structure of their investment portfolio in favor of altcoins. What do you think?
This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency.