Today in the cryptocurrency world it’s hard to ignore the momentum, price movement and price appreciation without wanting to get involved by either building a position, swing trading, day trading or scalping current movers in the market. Not fighting the tape means positioning in the direction of momentum.
I was recently doing some research on a few ICOs and found one [link] that provides the top 20 trending cryptocurrency symbols that are currently in the news as well as what they call ‘real-time interactive cryptocurrency charts’ and was truly amazed at the insight one could garner from looking at high flyers of the last 24 hours through this lens. I decided to take few screenshots of these based on a strategy of positioning in cryptocurrency momentum plays that I’ve been using fairly successfully. Here they are:
Ripple (XRP)
A link to the most recently updated XRP interactive chart is [located here] and the screenshot is below:
Bitcoin (BTC)
A link to the most recently updated BTC interactive chart is [located here] and the screenshot is below:
Ethereum (ETH)
A link to the most recently updated ETH interactive chart is [located here] and the screenshot is below:
Runner ups:
NEO (NEO)
A link to the most recently updated NEO interactive chart is [located here] and the screenshot is below:
IOTA (MIOTA)
A link to the most recently updated IOTA interactive chart is [located here] and the screenshot is below:
Qtum (QTUM)
Combining a modified Bitcoin Core infrastructure with an intercompatible version of the Ethereum Virtual Machine (EVM), Qtum merges the reliability of Bitcoin’s unfailing blockchain with the endless possibilities provided by smart contracts.
Designed with stability, modularity and interoperability in mind, Qtum is the foremost toolkit for building trusted decentralized applications, suited for real-world, business oriented use cases. Its hybrid nature, in combination with a first-of-its-kind PoS consensus protocol, allow Qtum applications to be compatible with major blockchain ecosystems, while providing native support for mobile devices and IoT appliances.
A link to the most recently updated QTUM interactive infographic is [located here] and the screenshot is below:
Conclusion
Some of these crypto plays have great teams, some great stories, some simply great momentum and price movements and some have all three and then some. Using Technical Analysis indicators may work quite well when targeting entry points for position plays or quick day trades. In either case, some day you might want to learn how to short as well as go long or hedge all together. Happy trading!