Monero lost 2% of its valuation over the last 24 hours and could attempt to revisit its month-long low of $233.25. Ethereum Classic depreciated by 1.7% while Dogecoin rose by 3.9%. However, key parameters for the coin still indicated bearishness.
Monero [XMR]
Monero declined by 2% over the last 24 hours and was trading at $260.30. The nearest support zone for the altcoin was around $252.32. On the four-hour chart, the altcoin’s price was well below the 20-SMA line – A sign that price momentum favored sellers.
The MACD flashed red histograms after noting a bearish crossover. Relative Strength Index fell below the half-line and suggested that selling pressure exceeded buying strength in the market. The Chaikin Money Flow, however, registered bullishness as capital inflows recovered and were inside the bullish territory.
On the upside, Monero’s overhead resistance stood at $281.74. This could push the coin to secure a one-week high. If XMR topples $281.74, it could revisit the two-week high of $305.62.
Ethereum Classic [ETC]
ETC/USD, TradingView
Ethereum Classic depreciated by 1.7% over the last 24 hours and was priced at $56.73. It just fell below its price floor of $58.09 and could fall to $50.11. Key technicals pointed to bearish price action on the cards.
The MACD flashed red signal bars after it met with a bearish crossover. The Relative Strength Index dipped below 50 and signified that selling pressure was present in the market. Finally, the Awesome Oscillator pictured red histograms.
On the flip side, if buying pressure recovers across the market, then the price can hit the $65.48 resistance. If it does so, the crypto’s next attempt would be to retest $70.60.
Dogecoin [DOGE]
DOGE/USD, TradingView
Dogecoin was priced at $0.241 as it continued to trade in a sideways manner. Although it flashed signs of consolidation, Dogecoin has appreciated by 3.9% in 24 hours. The overhead resistance with a consistent uptrend lay at $0.273, and touching it would mean a one-week high for the coin.
Technicals, however, pointed otherwise. The price level for the alt stood below the four-hour 20-SMA line which meant that momentum was in favor of sellers. The MACD flashed declining green histograms as it neared a bearish crossover. The Relative Strength Index was below the half-line, meaning buying strength had declined in the market. Finally, the Awesome Oscillator flashed a small red signal bar in accordance with the last trading session in the red.
If the bearish thesis does hold true, then the support for Dogecoin would be at $0.240 and then at its month-low of $0.213.