Altcoin Market Analysis KW04 – Stellar’s Ascent

Despite the drop at the beginning of the week, market capital was able to consolidate its position over 400 billion euros. The crypto currencies rising and falling in value kept the balance, as well as no one had to give way for another asset from the top 10 crypto currencies.

The price development of the ten crypto currencies with the highest market capital, which is stated in billions of euros, is shown. For crypto currencies that are currently not directly exchangeable into euros, the respective trading pair was taken with Bitcoin as the basis and converted into euros.

“After the price fall is before the price fall”, thought the market capital and fell directly on 22 January for the first time again under 400 billion euro market capital. Over the week, however, a lot of lost territory could be made up, so that the market capital could rise to 480 billion euros. The top 10 candidates have not changed compared to last week, but Litecoin and especially NEM have fallen: Litecoin fell from 6th to 8th place, while NEM fell from 7th to 10th place. In addition to price declines, which hit NEM particularly hard, the rise of NEO and Stellar can be seen as the reason: These currencies recorded gains of 18% and 25% respectively.

In addition to these Bitcoin trader gains, Ethereum also recorded significant gains of 13%

Best price performance: Stellar. Stellar could not test the all time high, but in the course of the reporting about the ICO of Mobius, which was implemented on the Stellar network, it could book a massive price gain. Although the rally has now cooled down somewhat, there was even a slight consolidation which did not jeopardise the share price and the general upward Bitcoin trader trend.

A positive but bearish MACD and an RSI at 50 lead to an overall neutral to bullish impression. The support is described by the EMA50. Falling below this support would end the upward trend so far. The resistance is described by the high reached in the recent rally.

Worst price development for crypto trader: NEM

NEM has now been caught in a downward crypto trader trend since the beginning of the year. Although this was briefly breached at the weekend, the momentum was not sufficient to overcome the downward crypto trader trend on a sustained basis. Currently, the share price is again strongly oriented towards the aforementioned downward trend.

The negative MACD and the RSI at 46 lead to a neutral to bearish impression. The most important support is described by last week’s price minimum. The most important resistance is at the level of the plateau reached yesterday. Should the price rise above this resistance, the downtrend determining the price would be broken.

Stability of the Top 10
A price gain of 26% for IOTA or a price loss of 21% for NEM could lead to IOTA again rising to the top 10 of the assets listed on Coinmarketcap. Accordingly, it can be assumed that the Top 10 will remain stable.

On average, all crypto currencies have risen by 3 %, which is also correct considering the market capital. Furthermore, it is above all tokens that can show large price gains. Among the five most increased investments, Cryptonex is only one real crypto currency. As strong as these rises were, none of these assets are expected to make it into the top 10; the gap is still too wide for that.

This week’s big loser was SmartCash, which lost 40% of its price. This price loss can be seen in the context of the delisting on Cryptopia: People have used the decline in supply to sell the coin at a much higher price via arbitrage trading on other exchanges. Another reason can be seen in the rewards that are paid out to node hosters at the end of the month: Before January 25th, many people bought SMART to build a master node and participate in the distributions.