Crypto Daily: Top-5 Portfolio Grew Above $70,000 Again

May 06, 2021
14:05
2 min reading

Choise.com team

Last week the market was calm after a strong fall and we saw stagnation and a transition to sideways movement. This was reflected in our portfolio, which grew by only 3%. Let’s see how the structure of our portfolio has changed this time:

As we expected in the last review, the market turned upward and showed significant growth. This is clearly seen in our portfolio, which grew 12% or $8,000 over the week. Thus, the value of our portfolio is as close as possible to its historical maximum, to which there is less than $2,000 left. We expected such a turn of events and warned you about it a week ago.

Litecoin is up 34% and is the top gainer in our portfolio this week. We were very confident about the growth of LTC last time and were right. The chart reached $365 yesterday and this is very close to the past ATH, which is located at $367 in 2018th. Most likely, buyers will make several more attempts to break through this level, and then the price can very quickly rise to $400 and even $500.

Ethereum saw another notable gain, increasing in price by 27% in 7 days. As a result, the ETH chart set a new all-time high at $3,549. In the past few days, the price of Ethereum has been trading in the $3,200 – $3,500 range, and this is very similar to the accumulation of positions before a new upward movement. The immediate target is the $4,000 level. The chart may rise to this level and even higher during the week.

XRP showed strong growth. Its price has increased by 23% and continues to rise. At the moment, the chart is consolidating above the important resistance level located at $1,60. The structure of the chart on the daily and weekly timeframes clearly indicates continued growth up to the range of $1,90 – $2,00.

But Bitcoin showed rather weak dynamics and grew by only 4%. As a result, its dominance in the market dropped noticeably – from 49.1% to 44.9% during 7 days. On the chart, you can clearly see that the price is moving in the range of $56,000 – $57,000. This may indicate an accumulation of position by major players. In general, the overall trend for Bitcoin is upward, so we expect to see the continued growth of the first cryptocurrency up to the $62,000 – $64,000 range.

CRPT fell nearly 13% this week and broke the downtrend from top to bottom. Now it is necessary to carefully observe the chart, in which direction it will lead itself. It is quite possible that we will see another sharp rise in the coin to $0.50.

Our portfolio structure has changed a lot this week, so we will be rebalancing again. We will sell some of Ethereum and Litecoin and buy Bitcoin, XRP and CRPT with them.

The past week has been extremely positive for the cryptocurrency market. Most of the assets showed an upward trend. First of all, this concerns altcoins, which continue to grow strongly and overtake Bitcoin in pace. Most likely, the market will continue to grow in the next 7 days with the same dynamics.