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Here’s the latest Top 10 Cryptocurrencies Buying Guide excerpt from HNW’s Altcoin Top 25 weekly update, where we chart the performance of the leading coins, give you insights into what makes each one valuable, and look at trends, trading ranges and when to buy and sell.
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The altcoin alpha male has been zigging and zagging it’s way through the $12,500 to $10,500 range for over a week now, having spent the previous three weeks in the $15,000 to $17,000 range. If the coin exchange dramas finally find their resolution this month we see Bitcoin going ballistic.
HNW: It’s a buy in the $10,000 to $11,000 range. Buy at currency exchange Binance, whose transaction volume is approximately tenth in the world.
Unfortunately, Ethereum’s recent dip doesn’t represent itself well as a buying opportunity, because Bitcoin’s main competitor is just 30% to 40% off it’s all time high. Right now it’s pricing at about $1,000. But the time to buy was back in early December.
HNW: Wait for Ethereum to drop back into the $400 to $700 range before making a move.
Sure, the buzz around ripple has certainly died off since it’s 10-day thumping of Ethereum for the second top spot in early January. But that shouldn’t keep buyers away. Ripple has dropped dramatically off it’s circa $3.50 high of early January down to the $1.10 to $1.40 range.
HNW: Buy at $1.20.
Bitcoin Cash (BCH)
We tend to forget about Bitcoin Cash, as if it were the awkward, goofy middle child of the altcoin family. But BCH preceded it’s current 36% fall over the last 30 days with an incredible route from $0.00 in August 2017 to over $3,500 by late December.
HNW: At it’s current $1,700, Bitcoin Cash is quickly moving back down towards its buying sweet spot of $1,100 to $1,200.
ADA is probably one of the most tempting buy options right now in the Altcoin Top 10 crytpocurrencies by market capitalisation. We watched Cardano break out in early January to a high of $1.20 and has now conveniently slunk back down to the top of its preferred buying range of $0.40 to $0.55.
HNW: This could be today’s best buy and hold.
If you were savvy, lucky or brave enough to pick up Litecoin before it’s march upwards from $55 in early November to $350 + in mid-to late December you’ll be laughing all the way to the bank. Even after it’s retrenchment to $180, those who have held firm are still between a tripling and quadrupling of their initial buy. For those outside that loop, Cardano is a tease until it drops back down to the $55 to $75 range.
HNW: You missed it…for now.
The same applies to Stellar (as to Litecoin). Sure, it’s currently priced at about $0.50, which is 50% off it’s high in early January, but the slide potential here is huge back down to the $0.15 to $0.25 range.
HNW: Watch for the drop into the $0.10 to $0.12 range, then pick it up.
In a lot of ways NEM, Stellar and Litecoin currently all suffer at the same price range yolk. With NEM, though, it’s a bit more severe. After an early January high of $1.80 it has now fallen back to the $1.00 range. But the curve here is steep and potentially treacherous.
HNW: Look for the $0.25 range before opening your imaginary wallet.
If Cardano is the most tempting option we’re seeing in today’s Top 10 Altcoin roundup then EOS is probably the most confusing. Having stumbled about through the $0.50 to $2.00 range for about five months from July to November, EOS suddenly took off to the mid-teens, where it has ducked and dived it’s way between the $10 and $16 range for the majority of January. We’re now sitting at $1,350 and it’s anyone’s guess which way it’s headed.
HNW: Stand back and let others get hit by the shrapnel until we see a return to the $3 to $5 range.
You want it, but you can’t have it. The altcoin that touched $170 since it’s 9th December climb upwards from $36 has already rewarded those who stood in the shallow price waters of $20 to $50 from August through November. Let it take you back to that home on the range before you start trading your Bitcoin and Ethereum in on a bet for the next NEO price vault.
HNW: Buy at $25.
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