Monero was walking around the $ 200 level with the crypto likely to give way to a wave of selling pressure. Ontology has fallen below several levels of old support over the past few days and may surpass one or two more. Finally, Synthetix saw a demand region shift to a supply region.
Motto [XMR]
Source: XMR / USDT on TradingView
The RSI fell below 50 and tested it as resistance on the hourly chart after bulls in XMR attempted to hold the price above $ 200. It could be an uphill battle, especially if Bitcoin continues to fall.
Over the next few days, $ 220 and $ 180 are the levels to watch. Climbing above $ 220 would imply that a rally has started for XMR, while a fall below its previous local low of $ 180 would see XMR lose value.
The Stochastic RSI was recovering from oversold territory in the last few hours. Trade volume increased as the price fell, highlighting the fact that a strong bearish market sentiment was still in play.
Ontology [ONT]
Source: ONT / USDT on TradingView
The Directional movement index shows that a strong downtrend was underway. While the ADX (yellow) went above 20 alongside the -DI (pink). The Awesome oscillator also highlighted the dynamics of the market to the south.
The next levels of interest for the ONT were the support levels of $ 0.75 and $ 0.68.
Synthetix [SNX]
Source: SNX / USDT on TradingView
Fractals are used to give extra importance to the points that formed the boundaries of the descending channel. As can be seen, SNX is closing a trading session under the channel and has risen to retest the $ 18 region as a supply region, formerly demand.
Having confirmed this decline, the market declines pushed the price down. The next support levels for SNX were $ 16 and $ 14. It both represents 10% and 21% drops from the trade price.
The MACD notes strong bearish momentum, as do 8 and 20 period exponential moving averages.
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