Monero reversed the resistance level of $ 143, but a move above $ 148 was unlikely as the bullish momentum slowed. IOTA recorded rangebound behavior as trading volumes were low. Even if DOGE were to decline in the short term, uncertainty shrouded its future trajectory.
Market bulls regained the price level of $ 143 as Monero moved towards its next resistance level at $ 148. The gains of the past two days were highlighted by the bullish divergence on the 4 hour chart. Although the bulls seemed to have firm control over the price, the MACD The histogram, despite a bullish cross, suggested that the bullish momentum was waning. A prolonged rally in the wider market would be needed to push XMR up the charts.
The Chaikin Money Flow remained above zero on the charts.
Failure to go beyond the press time channel could see XMR enter a phase of consolidation. Conversely, a fall below $ 139 could see bears targeting the next line of defense at $ 134.4.
IOTA traded amid its immediate support and resistance as there was a lack of strong momentum in the market. The Bollinger bands also showed that the price volatility was low because the bands were compressed. Since Stochastic RSI moved sharply into the overbought area, there were expectations that IOTA could break through its resistance level of $ 0.42.
However, the 24-hour trading volume fell 23% to just under $ 40 million and dismissed the possibility of a northward breakout. Over the next few sessions, IOTA could move between $ 0.42 and $ 0.39, with the possibility of a move north if buying activity picks up.
The Bollinger Band on DOGE showed that volatility is finally decreasing in the market after the price rose a monstrous 800% to record highs and put the coin “meme” in the crypto spotlight. Although DOGE lost almost 16% of its gains in the past 24 hours, it was interesting that the bulls kept the price above the 20-SMA.
However, as the dust settled in the DOGE market, a short-term decline was expected over the next few sessions with 24-hour trading volume plunging more than 50%. The Awesome oscillator Also supported the bearish outlook as the index slid below the equilibrium mark. Despite the decline, there was a lot of uncertainty in the DOGE market given its price action over the past six days.
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