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Monero, IOTA, Zcash Price Analysis: 19 March

Akashnath Sumukar

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Source: Pixabay

Monero saw some indecision in the markets around the $230-mark as the price dipped and bounced around this level. IOTA was in a phase of consolidation above the $1.3-level, while Zcash faced some resistance around $155.

Monero [XMR]

Monero, IOTA, Zcash Price Analysis: 19 March

Source: XMR/USDT on TradingView

XMR oscillated around the $230-level as sellers and buyers were involved in a skirmish. The OBV was on a steady uptrend since XMR tested the $200-mark as support a second time. Such demand from buyers underlined possible gains for XMR to come, once the $230-level is firmly flipped to support.

The altcoin’s price was trading just above the EMA Ribbons. The ribbons themselves were somewhat compressed, showing a lack of strong momentum in recent days. Climbing above the ribbons would be a sign of bullish intent, with the next level of resistance at $248.

IOTA

Monero, IOTA, Zcash Price Analysis: 19 March

Source: IOTA/USD on TradingView

The Bollinger Bands tightened around the price as IOTA consolidated above the $1.29-level of support. Trading volume was low, while the MACD showed a lack of momentum in either direction as it hovered around zero.

Below $1.29 lay the $1.08-level of support, and above the same was the $1.55-level of resistance. Widening Bollinger Bands alongside heightened trading volume would give the next direction for IOTA’s movement.

Zcash [ZEC]

Monero, IOTA, Zcash Price Analysis: 19 March

Source: ZEC/USDT on TradingView

The $149-level was breached twice as resistance over the past week, but the $150-$155 region has seen sellers step in to force the price lower each time. ZEC was pushed down to $135 and consolidated in the $135-$140 area for a few days, before its move upwards in recent days.

The RSI climbed back above  50 to indicate a flip in momentum to the bullish side. At the time of writing, the RSI was at 54 and climbing – A sign of rising bullish momentum, although it wasn’t yet strong. The Stochastic RSI also corrected lower from overbought territory.

Breaching the $150-region and retesting it as support could be a sign to enter a long position with a target of $172 in the coming weeks.


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Having studied Chemical Engineering, Akashnath's focus is on the UK and Indian markets and especially crypto assets. He is devoted to technical analysis and is always on the lookout for investment opportunities.