Monero has formed an uptrend on the hourly chart and could see a breakout beyond $ 220. Algorand recovered the $ 1 mark as support and pushed towards $ 1.15, and Compound stopped its $ 540 slide in mid-February to $ 337 and recovered towards the $ 450 mark.
Motto [XMR]
Source: XMR / USDT on TradingView
XMR has formed an ascending triangle on the 4-hour chart, after falling nearly 35% from highs of $ 282 to $ 180. Fractals show that $ 220 is the short-term target for bulls to rise above and return to support, although a further test of the ascending trendline can also be seen.
As price neared the end of the pattern, the Bollinger Bandwidth Indicator has also fallen over the past few days, suggesting that a breakout is in progress.
This pattern generally sees bullish movement, and the RSI has hovered around neutral 50 after staying below for the past few days.
Algorand [ALGO]
Source: SOMETHING / USD on TradingView
The hourly chart shows that ALGO is forming successive higher lows starting at $ 0.84, then $ 0.9 and $ 0.95 before its ascent beyond the $ 1 mark. This is a bullish development which suggests a recovery for ALGO.
The next levels of importance are the resistance levels of $ 1.15 and $ 1.26. The MACD was rising slowly, while the OBV also followed the price increases in the last few hours.
Compound [COMP]
Source: COMP / USDT on TradingView
The hourly chart does not reflect the descent of COMP from $ 550 to $ 443. The bulls try to repel the bears. Bitcoin’s decline from $ 58,000 is boosting declines. And the COMP hits a low of $ 322.
The buying pressure of the following days saw COMP recover past the $ 400 mark. The directional movement index shows a strong uptrend in progress. While the ADX (yellow) climbs above 20 as does the + DI (blue) to signal a bullish bias.
The impressive oscillator also showed increasing short-term bullish momentum. The next significant level of resistance is located at $ 438 and $ 453.
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