EOS, Monero, Waves Price Analysis: 21 May

EOS could dip back towards $5.75 if a break above $8 is denied. An impressive bull run pushed Monero by 30% and its $374.6-resistance lay in its crosshairs. Finally, the market sellers regained control after Waves failed to breach the $29-resistance level.

EOS

Source: EOS/USD, TradingView

The Fibonacci tool highlighted a key buy zone for EOS at the 78.6% ($5.75) Fib level. On the 4-hour chart, EOS registered some northbound movement, but it was yet to reclaim the 61.8% level ($7.07) – A region that clashed with the 20-SMA (red). However, a bigger test for the bulls lay at the 50% ($8.0) retracement level close to the 200-SMA. A successful breakout could result in a 20% hike towards the $10-mark. Rejection by sellers could lead to a fall back towards $5.75, but this would open up long opportunities for traders.

A bullish crossover in the MACD created some optimism but volumes were not there yet to support a breakout. Capital inflows were healthy towards EOS as the CMF maintained itself above equilibrium.

Monero [XMR]

Source: XMR/USD, TradingView

After Monero dipped towards its late February lows at $200, a strong bounceback was noted in the market. At press time, XMR was trading at $132, up by 30% in the last 24 hours. Now above its 20-SMA, XMR could rise towards its next target at $374.6 on the back of bullish sentiment. Overall, the predicted jump would represent gains of 83% from the $200-support.

Volumes across exchanges closed in on $1 billion as buying picked up. The OBV’s slight uptrend showed that buying pressure outmatched selling pressure over the past few sessions. The Awesome Oscillator eyed a move above the half-line as momentum was strong on the bullish side.

Waves [WAVES]

Source: WAVES/USD, TradingView

Buyers stepped in around $18 and cushioned losses after Waves suffered a fall of over 30% post the crypto sell-off. Some upwards movement was registered over the previous few sessions, but sellers regained control after a break above $29 was denied. Selling pressure returned in the market as the Awesome Oscillator

According to the Stochastic RSI, WAVES was overbought at the press time price point and a move towards the lower zone would enable a breakdown from the $23.16-suppport. A bullish scenario would result in a rise above $29 and the 50-SMA (yellow), but stronger cues were needed for such a move.