top of page
  • Writer's pictureTLivingstonBlog

Polkadot, Ethereum, & Litecoin Setting Up Well Near New Highs

Cryptocurrencies Polkadot, Ethereum, and Litecoin are all setting up well as they build bases near new price highs. While they may not enjoy the renown of Bitcoin, they are all top ten market cap cryptocurrencies.

I previously blogged about Ethereum and Litecoin earlier this year and again this month. They both continue to act well, forming high handles with large bases. This type of pattern always catches my attention since it offers enormous potential. Should ETH and LTC break out to new highs on volume, I will look to add to my positions. Of course, I will have a stop loss in place to limit my risk should they turn against me.

Polkadot is also tightening up as it approaches new price highs. What really impresses me about this chart is the compact action after the explosive move from $4 to $40. Other than one extremely volatile day in February, for the most part, DOT has been consolidating in an orderly fashion. In addition, shakeouts below the major support levels can also be valuable as they act as a reset to flush out weak hands. I will be monitoring the $40 level closely to see if DOT can breakout on volume. It is important to note that cryptocurrency trading is extremely volatile and risky. Reduced position sizing and proper risk management is an absolute must for anyone deciding to trade in this space.

If you are interested in using Coinbase to purchase Bitcoin, Polkadot, Ethereum or Litecoin, and would like to receive a $10 sign up bonus, use this link.

To learn more about breakout trading and trading in general, visit my course page.

Full Disclosure: I currently own Bitcoin, Litecoin and Ethereum.

Full Disclosure: This post contains an affiliate link to Coinbase.

Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.


Commenting has been turned off.
bottom of page