Crypto Daily: Top-5 Portfolio Stopped Declining

Jun 03, 2021
06:06
2 min reading

Choise.com team

Our experiment was exactly one-year old last week. Its logical result was the fact that our portfolio was significantly ahead of bitcoin in terms of profitability. However, in recent weeks, the volume of our portfolio has been steadily decreasing due to the negative situation in the entire market. Let’s see if we managed to break this unsuccessful streak in the last 7 days:

The past week was neutral for our portfolio. Its value has increased by only $50 or 0.1%. This can be considered a little deviant and the transition of the cryptocurrency market to a sideways movement. Nevertheless, the portfolio managed to interrupt the negative trend of the last month and at least its volume did not decrease.

The leader of growth this week with an indicator of + 5.67% was XRP. The price of the coin again crossed an important psychological milestone at the $1 mark. An ascending triangle has formed on the chart and the price approached the Bollinger Middle Line. In addition, many indicators are directed upward, which indicates a higher likelihood of growth than decline. We expect to see growth all the way to $1.40 per coin.

Next came Ethereum, the price of which remained practically unchanged over the week and grew by only 0.27%. In recent days, Ethereum has moved sideways in the $2,500 – $2,700 range. A “double bottom” reversal pattern has formed on the chart, which indicates the possibility of growth. The closest level to which the price of ETH may rise is resistance in the $2,975 – $3,000 range.

CRPT also shows the absence of any dynamics, as its price has remained practically unchanged over the week. Since June 1, the CRPT schedule has practically stopped and is not moving in either direction. However, indicators indicate that the coin is heavily undervalued and could see significant gains in the coming weeks.

The Bitcoin price has dropped by almost 1% and this can be called stagnation and transition to flat. After a strong collapse in mid-May, Bitcoin is unable to regain its previous positions and gain a foothold above $40,000. This level is now the key to the first cryptocurrency. If the price can reach it and gain a foothold higher, then the chart could quickly rise up to $45,000 – $47,500.

Litecoin has dropped the most this week. However, this cannot be called a strong fall, since its price decreased by only 1.33%. Litecoin has good prospects for gaining 25% – 30% in the coming weeks. This is indicated by a fairly strong chart and indicators. We expect to see LTC first at $200 and then at $240.

Our portfolio structure has changed little this week, so this time we will not rebalance. The past 7 days have been very calm for the crypto market, we have seen this very rarely. Perhaps this is due to the beginning of the summer season and many market participants simply left the crypto market.