The market is doing real-bad, in today's review, we'll try to figure out what are the best new entry point for the long-term trader.
ETH/USD
After 40% down within 3 weeks, ETH close to hit last year's support level at $260.
We can also notice that there's another support level at $260 but not a strong one as July last year.
Ethereum is still the second biggest cryptocurrency in the crypto industry, we believe he's here to stay.
XRP/USD
We said many times to sell XRP during the last 5 weeks, this is true, but if you believe in the project, it can be the right time to re-buy it cuz it's in his buy-area for the long run (end of 2019). Ripple has potential, the only question is when he'll be back on $1 level.
Market review- highlights
- Facebook announced they're not going to lunch a cryptocurrency on Stellar.
- Bitcoin traded below $6,000 for a few hours and makes the market lose 10% of its value.
- Saudi Arabia: Crypto-trading is illegal.
- Again, the SEC issues new warning about IRA fraud.