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Analysis

Monero [XMR/USD] Technical Analysis: Bull has abandoned privacy coin in bear’s realm

Priya

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Monero [XMR/USD] Technical Analysis: Bull has abandoned privacy coin in bear's realm
Source: Unsplash

Monero [XMR], the most popular privacy coin in the market, which found its happy place in the dark web lost its 10th position. This is the result of Bitcoin SV’s entry into the top 10, with over 83% gain in the past seven days. The privacy coin is currently placed in the eleventh position.

According to CoinMarketCap, at press time, Monero is trading at $53.51 with a market cap of $888.38 million. The coin has a trading volume of $19.77 million and has plunged by over 4% in the past 24 hours.

One hour:

Monero one-hour price chart | Source: Trading View

Monero one-hour price chart | Source: Trading View

In the one-hour chart, Monero pictures a downtrend from $69.96 to $60.48. The chart further pictures the cryptocurrency go through a steep fall from $60.48 to $55.73. The coin also demonstrates a short uptrend from $53.65 to $54.49, further up to rest at $55. It has an immediate resistance at $55.72 and a strong resistance at $60.50.

Parabolic SAR shows that the coin is currently stomped by the bear as the bear has aligned on top of the candlesticks.

Bollinger Bands is predicting a less volatile market as the bands have started to come close to each other.

Chaikin Money Flow is also forecasting a bearish weather as the line has crossed below the zero line, demonstrating that the money has started to flow out of the market.

One-day:

Monero one-day price chart | Source: Trading View

Monero one-day price chart | Source: Trading View

In the one day chart, the chart shows a downtrend from $203.52 to $114.07. It also pictures another downtrend from $84.20 to $54.40. The coin has an immediate resistance at $90.51 and a strong resistance at $147.58.

MACD is showing a bearish wave as the moving average line has made a bearish crossover.

RSI is also demonstrating a bearish trend as the coin’s selling pressure is overpowering the buying pressure in the market.

Klinger Oscillator is on the same page as that of MACD. as the reading line has made a bearish crossover.



Conclusion:

The bull has abandoned the coin in the bear’s realm. The coin is supported by Parabolic SAR and CMF from the one-hour chart and MACD, RSI and Klinger Oscillator from the one-day chart, in the bear’s kingdom.





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

Analysis

Bitcoin SV [BSV], Tron [TRX] and Litecoin [LTC] surge as Bitcoin [BTC] approaches $9,000 mark

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Source: Pixabay

The cryptocurrency market was surging again as the fork coin, Bitcoin Satoshi Vision [BSV], led the rally after a quiet weekend. The collective market cap stood at $268.7 billion with Bitcoin’s [BTC] dominance at 57.4%.

The controversy-ridden BSV managed to outshine the king coin, BTC in the latest surge, even as the latter made another leap over $8,500 and was closing in on the $9,000-mark.

Bitcoin SV [BSV]

The digital asset’s price took a major hit following Craig Wright’s rants and legal notices to several prominent persons in the space. At press time, BSV held a market cap of $1.91 billion and was priced at $106.8 after rising by 17.29% over the last 24 hours. The coin recorded a 24-hour trading volume of $414 million, with Upbit contributing over 9% via the trading pair BSV/KRW.

Source: TradingView

Tron [TRX]

At a time when most crypto-assets cooled down and retired on a bearish note over the weekend, Tron rallied following Justin Sun’s tweet, leaving the community on a bull ride.

“Something huge and amazing going about #TRON and #BitTorrent. I will share with you after June 1. I think I have 70% to win and nail it. Fingers crossed! $TRX $BTT”

TRX rose by 13.70% over the last 24 hours and was valued at $0.031. At press time, the eleventh largest digital coin held a market cap of $2.11 billion and recorded a trading volume of $1.23 billion over the past 24 hours, of which 8.9% was traded via TRX/USDT pair at BW.com.

Source: TradingView

Litecoin [LTC]

Litecoin was trading fairly well, despite few setbacks this year. LTC’s price soared mostly due to the much-anticipated halving event and several institutional adoptions. The fifth largest coin surged by 11.28% over the last 24 hours, catapulting its price to $113.6. At press time, LTC held a market cap of $7.04 billion and registered a 24-hour trading volume of $5.82 billion. Additionally, Coineal contributed a significant 11.3% trading volume via LTC/BTC.



Source: TradingView

Bitcoin [BTC]

The king coin achieved yet another milestone and surpassed $150 million market cap, as BTC approached the $9,000-mark with the latest upswing. It rallied by 8.36% over the past 24 hours and was valued at $8,698. At press time, BTC held a market cap of $154.1 billion and a 24-hour trading volume of $28.7 billion. Besides, 13.07% of the total trading volume was contributed to by Bitmex via XBT/USD.

Source: TradingView





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