Crypto Daily: Top-5 Portfolio Falls 3 Weeks In A Row

Jul 22, 2021
06:07
2 min reading

Choise.com team

Last time the value of this portfolio decreased by 4.6% and showed negative dynamics. During this week, the cryptocurrency market was in a downward trend and only yesterday managed to grow slightly. Let’s see if this has helped our portfolio grow:

As you can see from the chart, yesterday’s growth did not correct the situation and our portfolio fell by almost $1,000 or 2.7%. For the third week in a row, we have seen a decline in the value of our portfolio, which fully correlates with the market situation. This shows the lack of liquidity and interest in the crypto industry at the moment.

The leader of growth this time was CRPT, which rose 5.64% over the week. This asset was the only coin in the portfolio that showed positive dynamics. The chart has now come to resistance at $0.12. In the event of a breakdown, the CRPT price may rise to $0.15 – $0.16. The probability of this outcome is now the highest.

The Ethereum price practically did not change in any way over the week and continued to remain around the $1,980 mark. At the same time, within 7 days the price of Ethereum fell by 15% and reached $1,700. However, yesterday’s rise in the market allowed it to offset this decline. So far, we do not expect to see a reversal from this chart. The price may move to the $2,100 level and turn down, as the asset is trapped in a descending triangle.

Bitcoin lost 2% of its value in a week. Its price dropped below $32,000. However, literally on Tuesday, July 20th, Bitcoin fell to $29,500 and only then turned up. The chart of the first cryptocurrency is still in a descending channel and shows no signs of a reversal. Moreover, the trading volume continues to fall and does not bode well.

XRP, on the other hand, has already lost quite a lot. Its price dropped by almost 8% in 7 days. As we planned last time, XRP fell to the level of $0.50 and only after that showed a small rebound upward. At the same time, the chart of the coin still looks weak and there are further prospects for a decline. However, we do not exclude the fact that XRP may temporarily rise briefly up to the range of $0.63 – $0.65.

The leader of the fall this time was Litecoin, the price of which fell by almost 10%. The LTC chart is very similar to the XRP chart and the liquidity is still very low here. Litecoin has dropped to $103 per coin this week. We expected this alignment a week ago and it turned out to be correct. Now there is a possibility of a small growth of the coin to the level of $135. However, if buyers do not activate, then this mark will turn and the chart will go down again.

Despite the multidirectional movement of assets in our portfolio, their shares changed within acceptable ranges. Therefore, this time we will not rebalance the portfolio.

The market situation is still volatile. After yesterday’s growth, there is a possibility of an increase in prices for crypto assets. However, this can be a trap, so you need to keep a close eye on the chart until the end of the week. We think that these days the further direction of the cryptocurrency market will become clear. You can try AI Price Predictions to predict the future price of altcoins.