Connect with us

Analysis

Monero, Augur, Zcash Price Analysis: 02 April

Published

on

Source: Pixabay


Monero rose past $250 and could see further upside in the days to come after flipping the $247-level to support. Zcash was also strongly bullish as it targeted the $193-level. Augur‘s charts suggested that demand from buyers was present, despite its price noting a slight decline in recent days, hinting at a quick recovery.

Monero [XMR]

Monero, Augur, Zcash Price Analysis: 02 April

Source: XMR/USDT on TradingView

On the hourly chart, XMR had a bullish outlook. It had risen past an area of supply once more and was attempting to flip it to a region of demand. The RSI sunk back to 51 as the price traded around $253, at the time of writing.

Over the month of March, XMR has struggled to climb past the $230 and $238-levels of resistance. In the past few days, it accomplished this feat and moreover, flipped the $247-level to support as well. Further upside can be expected for XMR in the coming weeks.

Augur [REP]

Monero, Augur, Zcash Price Analysis: 02 April

Source: REP/USDT on TradingView

REP has been on a steady downtrend over the past two days, but this was only a pullback on the move from $30 to $43. Even as REP slipped under the $39-level, the OBV was making higher lows. This suggested that sellers were not really in control of the market.

A rejection at $39 would make the $36.8 area an attractive area for buyers, while a trading session close above $39 backed by strong volume could see this level flipped to support once more.

The Awesome Oscillator was moving below the zero line to highlight bearish pressure in recent days.

Zcash [ZEC]

Monero, Augur, Zcash Price Analysis: 02 April

Source: ZEC/USDT on TradingView

On the hourly chart, ZEC gathered steam between the $157 and $148-levels over the past few days and saw a strong move past the $157-mark. At the time of writing, the bulls were attempting to flip $173 to support, and a technical short-term target of $192.8 was arrived at based on the 27% extension level.

This target used ZEC’s move up from $116 over the past week to give an extension level.

The MACD showed that strong bullish momentum was behind ZEC, while the Chaikin Money Flow was also above +0.05 and underlined that capital was flowing into the market in greater amounts – a sign of demand.

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 Biomedical engineering graduate, Yash focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

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.