Crypto Daily: Top-5 Portfolio Grew by 20%

29 thg 7, 2021

Today we continue to talk about our experiment with rebalancing a portfolio from the Top-5 cryptocurrencies

For the previous three weeks in a row, our portfolio had been steadily declining and showing a clear downtrend. During this time, its value has decreased by 12.5%. Let’s see if we managed to break this trend over the past 7 days:

As you can see from the table, our portfolio was able to break the negative trend and showed very strong growth of 20% or $7,500. This is one of the highest rates for the entire time of our experiment. Thus, the volume of the portfolio again exceeded the important $40,000 mark. Absolutely all assets in the portfolio showed positive dynamics this time.

At the same time, Bitcoin became the growth leader, despite the highest capitalization on the market. Its growth was 25.2%, which allowed it to regain a foothold at $40,000. The main resistance on the chart is in the $40,000 — $41,330 range. If Bitcoin breaks through it, then the price can quickly rise by tens of percent. Anchoring above the 200-day moving average is a good sign. A few days ago, a “double bottom” pattern formed on the bitcoin chart, which also indicates an increase in the $44,000 — $45,000 area.

XRP was only slightly behind Bitcoin and rose 24.92% over the week, which is also a strong result. The chart tested the 200-day moving average and bounced down. However, many signs indicate a reversal trend, which could lead to a new round of growth in the $0.92 — $1 range.

Litecoin also saw significant gains, gaining nearly 20% in value. The chart was able to break through the upper border of the descending channel and fixed above it. This opens up significant space for the coin to grow. The closest level the chart will strive to reach is the $170 mark. This is where the final transition to an uptrend is located.

Ethereum also posted good gains, up nearly 16% over the past week. For the last 4 days, the chart has been storming the $2,300 level and cannot overcome it in any way. This is a key area for Ethereum. When the price consolidates above this level, there will be an opportunity for growth by 30% — 40% up to $3,000. This development is especially likely in light of the upcoming London hard fork on the Ethereum blockchain.

CRPT this time showed the weakest dynamics since it became the growth leader last time. The coin chart began to show the first signs of a reversal. Namely, the price bounced off the largest support level and has already increased by 20%. The indicators also point to strong oversold and have already begun to turn upward. All this could trigger a very strong wave of growth in the coming months, up to the $0.50 mark.

The assets in our portfolio continue to remain in acceptable proportions, so today we will not rebalance the portfolio.

The past week has been very positive for the cryptocurrency market. The vast majority of cryptocurrencies have turned upward and are testing resistance zones. Depending on whether they are able to break through them, the further direction of the market movement will become clear.