Altcoin Market Analysis – Bitcoin secret Cash explodes

Total market capital rose to 326 billion euros at the beginning of this week. All crypto currencies showed profits, with the exception of Bitcoin, which was in the double-digit percentage range.

Bitcoin secret little brother Bitcoin Cash was even able to increase by 75 percent

The Bitcoin secret price development of the ten crypto currencies with the highest market capital, which is stated in billions of euros, is shown. For currencies that are currently not directly exchangeable into euros, the respective trading pair was taken with US dollars as the basis and converted into euros.

The positive price developments continued. All prices continued to hold above the exponential moving averages EMA50 and EMA100 and recorded average price increases of 30 percent. Even if one considers Bitcoin Cash as an outlier with a price increase of almost 80 percent, an average growth of almost 25 percent can still be recorded. The Bitcoin share price “only” rose by nine percent. Thus Bitcoin forms the tail light regarding price gains in this week.

Total market capital has risen steadily from 265 billion euros to currently 326 billion euros.

The structure of the Top 10 has changed somewhat. EOS was again able to regain 5th place among the crypto currencies.

It is conspicuous that many of the prices considered currently have a short triangle pattern and are moving sideways accordingly. Accordingly, one should wait in front of a long position how the triangle patterns will be left. Good entry points are accordingly broken resistances.

Best price performance: Bitcoin Cash

The upcoming hard fork as well as the burning of BCH tokens from Antpool led to a large increase in the Bitcoin Cash price. Since April 18th, the share price has rallied to highs not seen for two months. A steep upward trend is being followed. A test of the plateau, which determined the price in mid-February, is imminent.

The positive and rising MACD and the overbought RSI at 77 together with the price and trend speak a rather bullish language. The market is currently quite overheated, but the hard fork may go further. In the case of a long position, a stop loss should be placed on the support of the downtrend, currently at 946.94 Euros. The first target would be approximately at the level of the mid-February plateau and thus at 1,240.00 Euros.