Connect with us


Monero, Augur, Dogecoin Price Analysis: 24 February



Source: Pixabay

Popular privacy coin Monero stabilized on the charts and eyed a rise above the $230-level on the back of its bullish indicators, at press time. On the contrary, Augur may require stronger cues from the broader market to break above the $39.2-mark. Finally, gains on Dogecoin’s charts could be restricted to the $0.062-resistance level, despite the bullish comeback.

Monero [XMR]

Source: XMR/USD, TradingView

A hike of over 5% in the last 24 hours helped Monero flip the $214.6-resistance at the time of writing. Even though some bearishness was observed in the market, the Awesome Oscillator noted three consecutive green bars as bullish momentum rose.

The Chaikin Money Flow seemed to have a healthy correlation with the crypto’s price as both moved in tandem on the charts. With the CMF holding above zero, capital inflows could sustain XMR above its press time support level. The next resistance level for Monero could be found at $230.

Augur [REP]

Source: REP/USD, TradingView

The emergence of successive green candlesticks or ‘three white soldiers’ on Augur’s 4-hour chart highlighted the buying pressure over the last few trading sessions as the price eyed a recovery towards the 20-SMA (blue). The MACD was on the helm of a bullish crossover while the histogram targeted a move above the half-line.

The Stochastic RSI also gave positive cues as the index was pointing north towards the overbought zone. The next major resistance level could be found at $39.2, but stronger cues from the broader market would be needed for a northbound breakout.

Dogecoin [DOGE]

Source: DOGE/USD, TradingView

The newest addition to the top-15 coins by market cap, Dogecoin gained by over 7% in the last 24 hours after a bounceback from the $0.04-support. The Bollinger Bands suggested that volatility was low and the upside could be capped at the $0.062-resistance level.

Despite the said bullishness, the ADX indicator was pointing south since the uptrend seemed to lose steam. Considering the recovery across the broader market, DOGE could stabilize above the $0.054-resistance level going forward.

Read the best crypto stories of the day in less than 5 minutes

Subscribe to get it daily in your inbox.

Please select your Email Preferences.

A business graduate with a keen interest in emerging markets across South East Asia. As a financial journalist, he covered stocks and market reports across Australia and New Zealand as well.

Click to comment

Leave a Reply

Your email address will not be published.

Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.