Today we continue to talk about our experiment with rebalancing a portfolio from the Top-5 cryptocurrencies. Last time, our portfolio showed a strong upward trend and grew by 20%, mainly due to Bitcoin. Since that moment, the market growth has slowed down and assets remained at the same levels most of the week. However, just yesterday, the market showed steady growth again. Let’s see how this has affected our portfolio:
Our portfolio is approaching its maximum value set in mid-April. Absolutely all cryptocurrencies from our portfolio showed positive dynamics this time.
The leader of the past 7 days was CRPT, the price of which increased by 9.1%. But it should be noted that during this time the chart rose to the level of $0.20. This happened 2 days after we predicted this growth. At the moment, the price has moved into a correction and may go down to the range of $0.13 – $0.14. Most likely, near these levels, we can see a phase of accumulation followed by a reversal.
XRP is in second place in terms of growth over the past 7 days with an indicator of +5.61%. As we had planned, the chart reached the $1,20 mark during this time and is now retracing downward. At the same time, this coin has strong potential for further growth. XRP has a steady uptrend that could continue in the coming week. In this case, the XRP price has all the prerequisites to reach the level of $1,35 – $1,40.
Bitcoin showed a growth rate of 5.42%. The first cryptocurrency is now the main engine of the entire market and sets local highs almost daily. However, the chart ran into the upper border of the channel and couldn’t break through it during the last week. The $57,500 – $59,000 range is an insurmountable resistance level that buyers cannot break through and gain a foothold above it. As a result, a bearish divergence has been formed on the 4-hour timeframe, which can lead to a decrease to the range of $52,500 – $53,000.
Ethereum has shown weak performance this week and is up by just 2.66%. The price hit a strong resistance level in the $3,600 – $3,700 range. At the same time, strong patterns are formed on the chart, which can allow you to break this level up. In this case, the Ethereum price can very quickly come to the $4,000 mark and gain a foothold above it.
Litecoin price practically did not change at all, its growth accounted for 1,35%. The chart finally turned sideways in the range of $174 – $183. The price spent most of the time at these levels. Despite this, LTC has a high probability of growth. The nearest target, to which the price may rise, is the range of $197 – $200.
This time we will not rebalance the portfolio, since all assets are within acceptable limits. The past week has been controversial for the cryptocurrency market. For most of the week, the entire market was in a state of uncertainty and showed a high probability of falling. However, yesterday there was a sharp rise in the market and now the expectations of market participants have become positive. This continues to indicate the factor that it is now extremely difficult to forecast the market and the uncertainty is ripening. Therefore, it is necessary to work with transactions extremely carefully now.