Crypto Daily: Top-5 Portfolio Grew by 500% Over The Year

May 27, 2021
10:05
2 min reading

Choise.com team

Last week, our portfolio value declined 24%, the largest drop in our experiment. Over the past 7 days, the market has been recovering from the collapse and turned into a sideways trend. Let’s take a look at how this affected our portfolio:

Our portfolio has continued to fall for the third consecutive week. This time, it is down just over $3,000, or 6% over the week. But our initial investment of $10,000 is still going strong. We have been running this experiment throughout the year and we can say that it has excellent results. Our portfolio has grown by 500% over the year.

Ethereum was the only coin to perform well this week. Its price increased by 1.69%. As we expected, the chart came in the $2,900 – $3,000 range. Buyers were unable to break through this level and the price went down. An inverted head and shoulders pattern is drawn on the 4-hour timeframe. This means that Ethereum may drop to the $2,200 – $2,300 area, after which it may rise first to $3,000 and then to $3,400.

CRPT has declined slightly this week – by 0.81%. The indicators show that the chart has begun to regain its fall and is slowly growing. Now the chart has gone down to the middle Bollinger line and has all the prerequisites to bounce up. We expect to see a progressive rise in the direction of $0.30 per coin.

Bitcoin dropped 5% over the week. At the same time, it has grown from the bottom by 25% and continues to grow. In recent days, the chart ran into resistance at $40,000 and cannot break it. We assume that Bitcoin will be able to show growth by another 15% – 20% and reach $45,000. But after that, you need to carefully study the schedule in order to understand whether it will continue to grow.

LTC has also declined over the past week. Its price fell from $201 to $185, or 7.84%. By many indicators, the coin was heavily oversold in the past week. Now the indicators have turned up and therefore the price will rise this week. The closest mark the chart can reach is the $234 level. There is an uptrend at this mark, breaking through which LTC can go even higher.

XRP fell the hardest in our portfolio, down 17.6% over the week. As a result, the price of the coin dropped below an important psychological level of $1. Now the chart is consolidating around this level and preparing to break it up. In this case, the XRP price could rise to $1.20.

The structure of our portfolio this week has changed slightly and the shares of all assets are within acceptable limits. Therefore, we will not rebalance today.

The past week turned out to be difficult for the crypto market at a certain point. However, a few days later, the charts have almost completely recovered from the collapse and have good preconditions for further growth.