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Is the Bottom in for Cryptocurrencies?

Monday, August 13, 2018 at 6:37pm

The sell off in cryptocurrencies continues to persist over the low volume trade in August. Coinopinions has initialed a Sell opinion in five of the top ten largest cryptocurrencies by market cap; including Ethereum (ETH), Eos (EOS), Litecoin (LTC), Monero (XMR) and Tron (TRX). Is the push down an effect of the strong dollar, contagion from the downward pressure on Turkey or is this a result of ICOs converting their crypto to fiat to purchase products, services and pay workers?

ETH.png

Ethereum (ETH) is trading at $291. 84 near its 2017 August lows. Is this Sell signal a Buying opportunity for this popular cryptocurrency?  

See: https://www.coinopinions.com/currencies/ethereum 

 

EOS.pngEos is testing its March 2018 low of $4.63 as CoinOpinions has a Sell opinions on the cryptocurrency off the recent highs when the coin was trading near $20. This may be an opportunitiy to purchase EOS at a 80% discount. 

See: https://www.coinopinions.com/currencies/eos

 

LTC.pngLitecoin is trading at $57 and testing its price level from about a year ago, will these price levels hold? CoinOpinions has issued a Sell opinion on Litecoin, but could this sell off be a buying opportunity as we enter the fourth quarter? The Litcoin summit hosted in San Fransisco on Septoember 14 -15th should provide a full update of the project and help with providing further direction and optimizm for holders. 

See: https://www.coinopinions.com/currencies/litecoin