Cryptocurrency Update: Ethereum Marches On as Dash and Ripple Jump | Hacked: Hacking Finance
Hacked: Hacking Finance

Cryptocurrency Update: Ethereum Marches On as Dash and Ripple Jump

Introduction

Mate Cser

Mate Cser

Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.


LATEST POSTS

Daily Analysis: Stock Volatility Collapses as Traders Await the FED 22nd August, 2017

Analysis: Bitcoin Spikes Lower as Ripple is the Next Coin to Move 22nd August, 2017

Analysis

Cryptocurrency Update: Ethereum Marches On as Dash and Ripple Jump

Posted on .
This article was posted on Thursday, 05:13, UTC.

Traders are still getting used to the new status quo of the crypto-market, as Ethereum continues to push to new highs, while Bitcoin bulls are licking their wounds after the steep correction. The total market cap of the coins climbed back above the $80 billion mark, as a sign of the continued inflow of capital in the sector.

// -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- //

The reduced volatility is also a bullish sign, as the downward spiral has been stopped by selling exhaustion and bargain-buying. The low-volatility environment could provide a base for a new leg up in the coins, but keeping trading volumes low is still recommended.

Ethereum

Ethereum is still riding the wave of adoption, although the Ether token ran into resistance near the 0.10 level on the ETH/BTC pair.  ETH could be ready for a brief correction compared to Bitcoin, possibly meaning a re-test of 0.085, that could correspond with the $200 level. ETH topped $20 billion in market value, representing one-fourth of the total market right now, as Ethereum looks to be solidifying its place as the cross-industry crypto-platform.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

Bitcoin

BTC is still hovering around the $2200 support, in a relatively tight range, between $2150 and $2400. A break above the $2400 could mean that we will see a re-test of the previous all-time highs, although traders shouldn’t forget about stop-losses in this environment. Asian demand is still helping BTC, while the US sessions have been less hostile this week.

Ripple

// -- Get exclusive consultation for as low as $249 per month on MoneyMakers.com -- //

XRP surged overnight, attempting a break-out from its steep correction pattern. The currency passed the crucial $0.25 level and spiked as high as 0.30. So far XRP failed to close above the declining short-term trendline so far but it’s still up by almost 30% of its lows from yesterday. Stellar and NEM are following Ripple higher as usual, both being up by around 20%, with NEM still being in a better technical position.

Dash

Dash has been steadily rising since the mini-crash last week, and it emerged as one of the leaders of the cryptocurrency market, closing in on its recent highs near the $150 level. Short-term traders should focus on the steep rising trendline, while long-term investors shouldn’t chase the market at this point, as another of the support zone around the $110 level is possible.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

Mate Cser

Mate Cser

Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.

Comments
  • user

    AUTHOR embersburnbrightly

    Posted on 5:54 am June 1, 2017.

    I was thinking about purchasing a coin or two of Dash, but your advice to hold off on that a bit (not chase the market) seems sound. Thank you!

  • user

    AUTHOR shyam_shankar

    Posted on 5:59 am June 1, 2017.

    So, according to your analysis DASH and XRP is better to buy can I have your analysis WRT ETC.

    Thanks.

  • user

    AUTHOR dudealex1

    Posted on 2:47 pm June 1, 2017.

    What about litecoin? I’d love to see an analysis.

    • user

      AUTHOR Mate Cser

      Posted on 3:32 pm June 1, 2017.

      Hi! We will cover LTC in today’s analysis! Stay tuned!

  • user

    AUTHOR jolly648

    Posted on 4:02 pm June 1, 2017.

    Any thoughts on Litecoin as well

  • View Comments (5) ...
    Navigation
    The team:
    Dmitriy Lavrov
    Analyst
    Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years of trading experience. He covers Forex, Commodities and Cryptocurrencies. He is among the top 10 most Read More
    Jonas Borchgrevink
    Founder
    Jonas Borchgrevink is the founder of Hacked.com and CryptoCoinsNews.com. He is a serial entrepreneur, trader and investor. He shares his own personal journey on Hacked.com. // -- Discuss and ask Read More
    P.H. Madore
    ICO Analyst
    P. H. Madore lives in Arkansas with his wife and children. He has covered the cryptocurrency beat over the course of hundreds of articles for Hacked’s sister site, CryptoCoinsNews, as Read More
    Mate Csar
    Analyst
    Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive Read More
    Justin O’Connell
    Journalist
    Justin O’Connell is a cryptocurrency journalist who works have appeared in the U.S.’s third largest weekly, the San Diego Reader & VICE. // -- Discuss and ask questions in our community Read More
    Mati Greenspan
    Analyst
    Senior Market Analyst at Etoro.com. // -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- // Important: Never invest Read More
    Rakesh Upadhyay
    Analyst
    Rakesh Upadhyay is a Technical Analyst and Portfolio Consultant for The Summit Group. He has more than a decade of experience as a private trader. His philosophy is to use Read More
    Pamela Meropiali
    Account Manager
    Pamela Meropiali is responsible for users on Hacked.com. // -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- // Read More
    Joseph Young
    Journalist
    Joseph Young is a finance and tech journalist & analyst based in Hong Kong. He has worked with leading media and news agencies in the technology and finance industries, offering Read More
    As I wrote a couple of days ago, I transferred…