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Monero, Ontology, Dogecoin Price Analysis: 28 January

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Source: Pixabay

Monero, at press time, was overwhelmed by selling pressure in the market and lost the important level of support at $130, while Ontology displayed a bullish divergence and effected a bounce. At the time of writing, it was valued at $0.55 and could climb as high as $0.58. Finally, Dogecoin surged by 90% in the hours before press time, before retracing some of the gains made.

Monero [XMR]

Monero, Ontology, Dogecoin Price Analysis: 28 January

Source: XMR/USDT on TradingView

Monero has been trending lower on the charts since mid-January. The $130-level is an important level for the market’s bulls and losing it would see XMR drop to $115, and possibly cede that level to the bears as well.

XMR’s bulls pushed past $130 in December, and the drop in early January saw the $130-zone provide strong support for a recovery towards $170 once more.

The RSI stayed close to the oversold zone on the chart. While $130 has been retested as resistance recently, XMR was southbound, at the time of writing.

Ontology [ONT]

Monero, Ontology, Dogecoin Price Analysis: 28 January

Source: ONT/USDT on TradingView

ONT noted a bullish divergence between the price and the momentum, bouncing off the $0.54-level of support. This $0.58-zone will be the next area of significant resistance for ONT, and so a hike to this region can be expected over the next few hours.

It would likely be followed by selling pressure that would see ONT drop back towards the $0.54-level. The highlighted region at $0.5 to $0.52 can act as a region of demand, should ONT dip further.

The broader pattern appeared to be a head-and-shoulders pattern, one that could presage a plunge under $0.5, but this hadn’t been confirmed yet.

Dogecoin [DOGE]

Monero, Ontology, Dogecoin Price Analysis: 28 January

Source: DOGE/USDT on TradingView

DOGE pumped to test the $0.0145-level once more after nearly two weeks of consolidating in the vicinity of $0.0088.

The trading volume matched previous pumps, and the OBV also spiked accordingly. Tweets from an anonymous user about Bitcoin and Dogecoin, amidst the drama around GameStop stocks short-squeeze, could have had a role in the latest DOGE price surge.

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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.