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Altcoin Market: ETH, DOT, XTZ – Technical Analysis

Altcoin Market: ETH, DOT, XTZ

Bitcoin is in a bearish trend since the past couple of weeks. The dominance of BTC has also been declining which is a good sign for the altcoin market. Once the dominance starts reaching a top, altcoins will start entering a bullish trend.

Some of the altcoins which would perform well in the coming bull cycle could be Polkadot, Tezos and Ethereum. Ethereum is generally the altcoin market leader and given the resemblance of the Polkadot ecosystem with ETH, we could see a bullish trend in ETH as well. XTZ has been another sleeping altcoin which has been accumulating and has a good potential.

ETH/USD – Price Prediction

ETH

ETH is currently trading above the support zone of $1242. How this support holds will determine the course of action for ETH in the near future. As long as ETH can stay above this support, we could see a move towards $1341, $1401, $1450 and $1500. However, if the support at $1242 breaks, we could start seeing a drop towards $1184, $1114 and $1046 which would be good entry points for longing ETH.

DOT/USD – Price Prediction

DOT

DOT is currently trading just below the support zone of $15.89. If it cannot reclaim this support zone, we could start seeing a drop towards the previous support zone at $14.73 and a less likely but possible drop towards $12.72. Once the supports have been established, we could start seeing a move from DOT towards $17.69, $19.49, $20.94, $22.39, $24.46, $27.10 and $34.71.

XTZ/USD – Price Prediction

XTZ

XTZ is trading just above the support zone of $2.69. As long as XTZ is trading above this support zone, we could start seeing a move towards $2.92, $3.08, $3.22, $3.43, $3.69 and $4.44. Failure to hold the support at $2.69 could lead to a drop towards $2.46 and $2.28.

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Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.

Do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.


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