Monero is overwhelmed by the selling pressure in the market. It loses the important support level at $ 130. While Ontology displays a bullish divergence and has rebounded. It is valued at $ 0.55. And it could go up to $ 0.58. Finally, Dogecoin jumped 90% in the hours leading up to press time, before retracing some of the gains made.
Motto [XMR]
Source: XMR / USDT on TradingView
Monero has been trending down on the charts since mid-January. The $ 130 level is an important level for bulls in the market and losing it would cause XMR to drop to $ 115, and eventually cede that level to bears.
XMR bulls broke above $ 130 in December, and the decline in early January saw the $ 130 area providing solid support for a rally to $ 170 once again.
The RSI stayed close to the oversold area on the chart. While $ 130 is being tested for resistance, XMR was heading south.
Ontology [ONT]
Source: ONT / USDT on TradingView
The ONT noted a bullish divergence between price and momentum, bouncing off the $ 0.54 support level. This area of $ 0.58 will be the next area of significant resistance for ONT, and a rise in this region can therefore be expected over the next few hours.
This would likely be followed by selling pressure which would push the ONT down to the $ 0.54 level. The highlighted region of $ 0.5 to $ 0.52 can serve as a demand region, if the ONT continues to decline.
The larger model appeared to be a head-and-shoulders model, which could portend a drop of less than $ 0.5, but that had yet to be confirmed.
Dogecoin [DOGE]
Source: DOGE / USDT on TradingView
DOGE pumped to test the $ 0.0145 level once more after nearly two weeks of consolidation at around $ 0.0088.
The volume of transactions corresponded to previous pumps, and the OBV also increased accordingly. Tweets from an anonymous user about Bitcoin and Dogecoin, amid the drama surrounding short GameStop stocks, could have played a role in DOGE’s latest price spike.
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