Monero, Cosmos, Price Analysis: April 12th

Monero saw a breakout in the opposite direction from an ascending channel and made a new high above $ 340. ATOM indicators refused to move below the 200 SMA, while Decred could hit the $ 200 mark if support for print time is maintained.

currency [XMR]

Source: XMR / USD, TradingView

While Monero was moving within an ascending channel, a breakout occurred in the opposite direction, negating the pattern. The breakout hit a high of over $ 340 and although a bearish candlestick appeared within the 4 hour period, bullish market conditions could continue to boost the price in the upcoming sessions as well.

ADX pointed north of 44 and saw no reversal anywhere according to the current reading. RSI While there were overbought market conditions, stabilization could be delayed until Monero hits the next psychological level of $ 350.

cosmos [ATOM]

Source: ATOM / USD, TradingView

Although Cosmos broke its upper resistance at $ 22.67, a correction soon took place, pulling the price below that level again. Bearish differences have been identified in RSI and the upcoming sessions could determine ATOM’s medium term performance. The bulls would hope to cut incoming losses to $ 19.84 as a move below that would cause the 200 SMA (green) to collapse.

This could also lead to an extended bearish scenario and the support at $ 16.7 could be highlighted again. A higher trend, however OBV denied the idea of ​​such an outcome. Although RSI moved south in recent sessions, flattening out at 57 and showing some bullish strength at the current price level.

Decreed [DCR]

Source: DCR / USD, TradingView

Decred has been bullish since early 2021 and even ended a rebound above its late February level in March. While DCR trading was lower in the second half of March, the price rebounded sharply from the $ 143.8 support. In the future, the price could even surpass the $ 200 mark if support for print time is maintained.

MACD showed a bearish crossover but the index was still above half the line and the bulls were not facing any immediate threat. Even in the event of a breakdown, the price could find further support at $ 185.3. While OBV is down slightly at the time of writing, its overall performance since January has remained bullish. While short-term losses are possible for DCR, a positive long-term trend was expected.

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