Possible that altcoins will crash further as this downtrend is not over yet, but: what altcoin to buy? When to purchase altcoins? Will there be any altcoin season at all?
Now it is a very exciting time right now for crypto. Let me explain why other than Bitcoin, which has been consolidating for the last few months, the other crypto markets have actually been, as you can see here, they've actually been in downtrends so a lot of the cryptocurrencies like XRP Light, coin dash and so on have been in major downtrends and um, and just take a look for example XRP here, which has actually gone down from the 50 level now to the 25 level, almost a 50% drop in the last few months. Light coin as well has been a downtrend dash, which is one of my favorite cryptos is also now in a down trend at the moment. And here's the thing guys, and as I'm sure you'll probably agree, this is very exciting because I think we could be getting close to another great buying opportunity on crypto very soon. In the last few days I've actually opened a few more cryptocurrency accounts with some other cryptocurrency exchanges like Coinbase, Cracken bit stamp obviously.
And, and the reason is I'm getting ready to buy some more crypto. So I'm looking to buy more bitcoin, but also I'm looking to buy, for example, a etherium the bit more theory, IOM XRP as well looking to buy light coin and also eos. There are people out there who are more smart than me when it comes to the fundamentals of cryptocurrencies. And they tell me they quite like Ios, they don't like light coin, but they do like Ios. I'm also looking to buy a Monero, so I'm going to pick up some more Minero car Dano and of course my own personal favorite dash. By the way, let me know in the comments section, which crypto you quite like and why. And by the way, guys, let me just make it very clear. This is not supposed to be some kind of commercial for cryptocurrencies other than bitcoin.
We have no idea which of these cryptos is going to end up being something and which will be worth nothing. So it's quite possible that perhaps other than Bitcoin, a lot of the cryptocurrencies may end up being worthless in the near future. So as I'm sure you already know, there's a lot of risk attached to these cryptos. So any money that's going to go into these cryptos is a risk capital. So essentially money we can afford to lose. Now looking at the charts of some of these cryptos, I mean just looking at XRP as a start, a XRP here, I'm sure that a lot of people out there who are kicking themselves, because they probably bought XRP or ripple back when it was trading at 50 and now it's at 25 half price. So this is why being saying, guys, I've been saying this over and over again that we never chase the market.
Professionals never chase the price, they let the price come back to us. We always let the price come back to us. We never chase it. All right, so XRP for example, has come back down and I'm sure it's a lot of people out there who bought XRP at those highs and now they're kicking themselves because there could perhaps be another buying opportunity at a much cheaper price in the next few months, perhaps in the next few weeks. I should just say that XRP continues to fall lower. There isn't actually a lot of support until perhaps the 20 and 14 range here. All right, so that should be quite interesting. And another crypto I'm watching is of course light coin, light coin, again continued to downtrend again in our member videos. We've been bearish on [inaudible] for some time and you can see that uh, yeah, we've got more momentum coming in to the downside here on light coin.
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Light coin is approaching a key support levels. We'll have to see what it does here. Uh, but essentially at the moment it remains in a downtrend. Uh, taking a look also at dash again, one of my favorite cryptos I think dash is about to potentially break even lower. The reason is that we've got this pulse signal that's forming right now on dash momentum is now turning more negative with gamma confirmation being red. So again, with bitcoin prices pushing further lower, I think we could see dash also potentially breaking and likely falling lower, maybe even down to the support levels at 63. I'm taking a look also at XMR Monero again, I quite like one Arrow and again I'm not looking to buy any of these crypto is at the moment, but I'm perhaps looking at the Monero and some of the other crypto as I mentioned once we get a buy signal and we haven't got a buy signal at any of these cryptos yet, but once we get a reversal or trend reversal signal on these cryptos uh, that I mentioned then if the conditions are right, uh, we're looking to pick up some of these cryptos at much lower prices.
Cardona no, uh, yeah. Cardona also forming a pulse signal here and I think Cardona also might fire that pulse to the downside. We've got gamma confirmation being red here as well, so we could see cardinal potentially heading a bit lower as well. Um, support on Cardona's about the 40 range and perhaps, uh, lower than 40. Yep. 30 level range as well because some major support down there. Bitcoin, once again, coming back down to the support levels at Charlie and I've been saying now for some weeks, the more times price comes down to test the key support level, the more likely it's going to break it. So it looks like bitcoin is coming back down again. Perhaps the test is key support level near what 9,950 and it looks like bitcoin perhaps could actually break that level potentially to the downside. And again, if bitcoin pushes further lower, which is quite likely a, again, there could come a time potentially the next few weeks and maybe the next few months where there might be a, an even better buying opportunity for crypto and perhaps even a better buying opportunity for bitcoin as well. Again, guys, as I mentioned before, please be mindful of the risks. There's a lot of risk involved in regards cryptos and bitcoin. I am personally not a huddler, so again, it's always important to use a stop loss or some kind of trailing stop loss or risk protection.