The cryptocurrency market has been seeing great volatility over the past few days. This volatility has changed the existing trends in the market for almost all altcoins.

With a market capitalization of $4.171 billion, Monero [XMR] was pushed down to the 28th position on the CoinMarketCap list. The volatility in the market has been pushing the digital asset and at the time of writing, the market was once again seeing changes as XMR was being traded at $233.10.

Monero six-hour chart

The above chart of Monero indicated that the price noted a common trend of a surge followed by a period of consolidation since the beginning of the month. The digital asset has maintained this move as it witnessed a surge in value a couple of days ago, pushing it past the resistance at $225.56. Currently, the price has been consolidated between $225 and $241.

As the market progresses, there were signs that this bullishness in the market may get wiped away as the bears came charging.

Reasoning

Although the market was witnessing great volatility earlier, the current XMR market indicated low volatility. This was highlighted by the convergence of Bollinger Bands. Meanwhile, the signal line which was supporting the price until now was seen moving above the candlesticks.

Whereas the 50 moving average was moving parallel to the candles offering support a little above $225.

Meanwhile, the Relative Strength Index has been noting that irrespective of the volatility in the market, the buying and the selling pressures in the market have remained mostly equal. At the time of writing, the RSI was valued at 52 which meant the buying and the selling pressures were now evened in the market.

Conclusion

A lack of momentum and volatility has maintained XMR’s consolidatory trend. However, the bears were catching up. XMR may have to put to test the support at $225 and if it fails, the value of XMR will drop close to $211.

Litecoin, FTX Token, Compound Price Analysis: 22 March

Uniswap, BitTorrent, DigiByte Price Analysis: 22 March

Namrata is a full-time journalist at AMBCrypto covering the US and Indian market. A graduate in Mass communication, while majoring in Journalism, she writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.

Aave, Cosmos, Monero Price Analysis: 28 March

Monero, Zcash, Chiliz Price Analysis: 27 March

Bitcoin Cash Price Analysis: 27 March

Bitcoin Price Analysis: 27 March

Polkadot Price Analysis: 26 March 

Dogecoin Price Analysis: 26 March

Despite its recent price fall, Augur‘s charts showed that buyer appetite was present, suggesting a fast rebound. Monero has reached Read more

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Lower timeframes for Uniswap indicated a change of leverage in favour of the bulls. This could lead UNI to increase Read more

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Altcoins, such as EOS and SUSHI, recorded southbound breakouts from their parallel networks, with both $3.8 and $13.4 eyeing support Read more

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The Bitcoin market has pulled itself out of the earlier $45k-$48k range and has been trading above $57k. At the time of press, the largest cryptocurrency was being traded at $58,335 with a market capitalization of $1 trillion.

The sudden surge which carried BTC to its new all-time high above $60k was followed by a correction. The value of BTC stumbled to $53k, however, it was since pushed higher by the traders.

Bitcoin six-hour chart

The above chart noted these highs and lows witnessed over the past few days. BTC’s current market has been showing signs of consolidation and it may continue with this trend in the mid-term.

Reasoning

The Bollinger Bands had remained diverged after the correction and surge. This push in the price has resulted in the bulls remaining in charge of the current trend. The signal line slipped under the candlesticks indicating the rising pressure. Despite the correction, the 50 moving average was noting that the Bitcoin price has been building higher as it remained under the price bars.

Meanwhile, the Relative Strength Index [RSI] highlighted that as the buying pressure in the market rallied the price also surged. At the time of press, the RSI value was 54, which was close to the equilibrium zone. Currently, the buying and selling pressures were equalized given the value of BTC.

However, despite the bullish market, the momentum has remained low. This indicated that the market may not be prepared for a price swing and may continue to move along the current price range.

Conclusion

The above chart of Bitcoin indicated that the sudden surge and fall has caused the current value to move sideways. This sideways movement may continue as the buyers and sellers evened each other out in the market while the momentum remained low.

Why ‘DeFi and Bitcoin can’t thrive together’

Bitcoin Cash, Dogecoin, FTX Token, Decred Price Analysis: 20 March

Namrata is a full-time journalist at AMBCrypto covering the US and Indian market. A graduate in Mass communication, while majoring in Journalism, she writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.

Bitcoin Cash Price Analysis: 27 March

Bitcoin Price Analysis: 27 March

Polkadot Price Analysis: 26 March 

Dogecoin Price Analysis: 26 March

Monero Price Analysis: 22 March

Uniswap Price Analysis: 21 March

The market is rallying and so are many of the altcoins. Even though Monero is no longer among the major altcoins, it has been witnessing a similar rally as other altcoins. Over the past couple of days, XMR’s value has been surging and at the time of writing, the digital asset was being traded at $232.94.

Monero six-hour chart 

The above chart of Monero showed that the value of the cryptocurrency was surging higher almost every day over the past week. Monero cleared levels of resistances to reach a high value but was currently seen consolidating. The immediate support it currently has is at > value shows a steep rise over the past couple of days. This has put the digital asset in extremely bullish territory. The bullishness has been long extended in the market, however, the price has not yet corrected itself. Currently, as the consolidation continues, the price may witness a selling pressure which may push it under the support at $223.

The relative strength indicator showed that the digital asset has been largely overbought. It has remained in the overbought zone since 9 Feb and the sellers may take over the market if a price correction were to take place.

Meanwhile, the momentum appeared high as the awesome oscillator indicator showing strong, growing, green bars in the Monero market.

Crucial levels

Entry-level: $232.40 Stop-level: $247.38 Take Profit: $207.88 Risk to Reward: 1.64

Conclusion

Monero was currently undergoing a consolidation phase and its price may witness a correction in the coming days. The price may slip under $223 and the traders can take profit at $207. The next level of support for the digital asset was visible at $197.

Chainlink, Uniswap, Dogecoin Price Analysis: 14 February

Polkadot, Aave, SushiSwap Price Analysis: 14 February

Namrata is a full-time journalist at AMBCrypto covering the US and Indian market. A graduate in Mass communication, while majoring in Journalism, she writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.

The past 24-hours saw increased bullish momentum in the overall crypto market as Bitcoin went past its ATH and surged past $60k. Since then BTC’s price has managed to move slightly upward. Despite the altcoin market having had a traditionally high correlation with Bitcoin, the bullishness hasn’t been uniform. Cardano’s sideways movement continues as the coin continues to trade in a narrow range.

At the time of writing, ADA was being traded at $1.091 with a market cap of $34.8 billion. In the past week’s time, the coin has endured a dip of over 3.5 percent and noted a 24-hour trading volume of over $2 billion.

Cardano 1-day chart

Cardano’s price has been continued in a narrow range over the past week. There hasn’t been enough momentum in the market for its price to move in either direction. The resistance at $1.29 continues to be a formidable barrier and the past few days have seen the price failing to go past this range.

This has led to increased sideways movement and given the overall bearish nature of ADA’s long-term market, it won’t be long before ADA heads towards its immediate support at $0.78. One can argue that if the coin fails to see strong bullish momentum in the near term, and the resistance level at $1.29 continues to remain unbreached, in the coming week, ADA’s price is quite likely to see a dip, giving traders with short positions an opportunity.

Rationale

The MACD indicator illustrates this bearish sentiment in ADA’s market. The signal line continues to hover quite above the MACD line and after having endured a bearish crossover, there seem to be no signs of a reversal. The RSI indicator concurs and continues to remain in the neutral zone with the indicator heading towards the oversold zone.

Important levels to watch out for 

Resistance: $1.29

Support: $0.78, $0.57

Take Profit: $0.78

Stop Loss: $1.26

Risk/Reward: 1.22

Conclusion 

The price of ADA needs to breach its immediate resistance in order for its rangebound price action to come to an end. If the coin fails to breach the resistance level in the coming 24-hours then one can argue that a drop to its immediate support at $0.78 is inevitable for ADA. This is likely to happen over the course of the coming week.

XRP, Monero, Ontology Price Analysis: 14 March

Why gaming may be able to revive interest in Bitcoin’s Lightning Network

Jude Gerald Lopez is a full time News Editor at AMBCrypto covering the US and Indian market. He is a post-graduate in English literature with around 4 years of teaching experience in Indian literature.

Cardano Price Analysis: 25 February

The cryptocurrency market has been dealing with a lot of volatility over the past couple of days. Although the surge in price dragged the digital assets out of a consolidation phase, the correction has been pushing the price of altcoins down. The third-largest cryptocurrency with a market cap of $39.86 billion, Binance coin [BNB] was trading at $256.78.

Binance Coin [BNB] one-hour chart 

The above chart of BNB highlighted how the price of the digital asset was on a gradual downtrend. After hitting $270 the price saw a further drop and was currently at $259.18.

At the time of press, the coin found support at $254.48 and has been holding onto this level. Given the bearishness in the market and the strength of the BNB market, we may be looking at a period of consolidation.

Reasoning

The BNB market was noting a sudden surge in volatility as the correction set in. However, the market has turned bearish since it started to trend lower, but the selling pressure increased as the asset encountered a sudden drop.

However, the buyers were trying to stabilize the price of BNB and pushing it higher from the support. This was indicated by the Relative Strength Index that had dipped in the oversold zone but had now reversed. The value of the indicator was still close to the oversold zone but was pointing towards the equilibrium zone.

Crucial levels

Entry-level: $258.95 Take profit: $270.65 Stop-level: $251.27 Risk to Reward: 1.52

Conclusion

The Binance Coin market may have suffered a strong correction but the price has been holding above support at $254.48. Despite the bearish signs in the market, the value of BNB may move sideways as the remaining crypto market recovers.

Why it’s crucial to keep track of Bitcoin exchange deposits at the moment

XRP, Cosmos, BAT Price Analysis: 15 March

Namrata is a full-time journalist at AMBCrypto covering the US and Indian market. A graduate in Mass communication, while majoring in Journalism, she writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.

Binance Coin, Monero, Basic Attention Token Price Analysis: 21 March

Binance Coin Price Analysis: 20 March

Bitcoin Price Analysis: 20 March

Binance Coin, Cosmos, Dogecoin Price Analysis: 19 March

Binance Coin, Ontology, Verge Price Analysis: 17 March

Bitcoin Cash Price Analysis: 15 March

Ethereum bounced strongly off the $1550 region and could flip the $1700 to demand in the coming hours. XRP displayed neutral momentum in the markets but had strong support at $0.53, while Dogecoin saw buyers step in at $0.049 and could be headed back toward $0.062.

ETH showed signs of buyer dominance in the market. The $1550 area saw a strong bounce, and the $1720 area was tested. ETH then saw a minor dip to $1670 before climbing above the $1700 mark.

A move above $1730 can be used to enter a long position with a stop-loss of $1680 and a target of $1850.

The confluence between Fibonacci retracement levels for different price moves marked the $0.53 level as an important support level. The shorter-term Fibonacci levels showed XRP had recovered well, and XRP has also climbed past the $0.52-$0.528 area.

OBV showed that there was a lack of buyers behind XRP; the drop from $0.58 to $0.48 had a greater selling volume than the buying volume that has pushed the price back to $0.55. MACD also showed that recent hours saw momentum grind to a halt.

This spelled uncertainty for XRP in the short-term. On a longer-term outlook, the recent drop was only a minor setback for XRP bulls, who effected a breakout from a descending channel and had a target of $0.63.

DOGE suffered a near 20% drop over the past two weeks as it fell from $0.062 to $0.049, but saw a strong bounce off the support level to trade at $0.054 at the time of writing. These two levels have remained intact since mid-February when DOGE dropped from $0.085 to consolidate at $0.05.

At the time of writing, Awesome Oscillator showed a shift in momentum to bullish as the histogram crossed over above the zero line. The Aroon indicator had seen a dominant Aroon down (blue) in recent days, but that has changed as well.

The trading volume was average at best and did not hint at an imminent major move.

Aave, Cosmos, Monero Price Analysis: 28 March

Bitcoin newbies and pros: How these traders are viewing bitcoin

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.

Ethereum, Dogecoin, Synthetix Price Analysis: 03 April

What price movement is expected for XRP and LINK

Here’s the metric that is influencing YFI and XRP’s prices

Bitcoin SV, Waves, Dogecoin Price Analysis: 01 April

XRP, Tezos, Dash Price Analysis: 29 March

Bitcoin Cash, Waves, Dogecoin Price Analysis: 29 March

Bitcoin had formed a symmetrical triangle (white) and broken out of the pattern to the upside. But a bearish divergence was spotted as Bitcoin attempted to head north of $11,600.

Shown in orange, the price made higher highs as the momentum indicator (RSI) made lower highs. This showed that the bullish momentum had lost steam and BTC would be forced to drop.

Bitcoin was forced as low as $11,200 before recovery. The $11,300 and $10,800 are important levels of support for the asset. A break above $11,600 would mean bulls were strong in the market.

Another thing to keep an eye on would be if RSI broke upwards past the descending trendline (orange). This could accompany a BTC move upward.

The uptrend for XMR was still in play. As shown by the Fibonacci Retracement tool, the asset was pulling back to key retracement levels before another move upward. This move could take days or even a couple of weeks to break above $135.

It can be seen that the 38.2% retracement level held well as support. The 50% retracement also coincides with the $115 historic level, reinforcing its strength.

The OBV showed that buying volume was still strong. The white line on the OBV is a level to watch out for. If OBV moved beneath this line, it would indicate that buyers were losing their grip on the market. It could presage a move for XMR beneath $115 support.

In other news, XMR market cap at $2.1 billion was a two-year high, after September 2018’s $2.25 billion.

The 20 period VWMA (green- volume weighted moving average) snaked beneath the 20 period SMA (white), showing that there was momentum in the past few hours for DOGE to the downside.

The MACD was still showing a strong sell signal, but a bullish crossover beneath the zero line might occur if DOGE bounced off support at $0.00258.

Monero (XMR) hard fork goes live

Chainlink, EOS, VeChain Price Analysis: 16 October

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.

Binance Coin, Monero, Dogecoin Price Analysis: 08 December

Bitcoin SV, Waves, Dogecoin Price Analysis: 07 December

Monero, BAT, Verge Price Analysis: 06 December

Litecoin, Cosmos, Dogecoin Price Analysis: 03 December

Bitcoin SV, Monero, Algorand Price Analysis: 02 December

Cardano, Tron, Dogecoin Price Analysis: 01 December

If Ethereum (ETH) does trade above the $400 level again, altcoins further down the crypto ladder may also experience positive momentum given the largest altcoin’s high influence on market prices. However, at press time after noting a 0.3% decline since yesterday, ETH investors could only expect a minor retracement of gains over the next few days, with other altcoins also continuing to trade near their support levels.

Monero and Algorand were seen trading just above their support levels. The selling pressure and the ensuing bearishness also stalled any immediate price recovery attempts for the two digital assets.

Ethereum [ETH]

Ethereum continued to trend bearish as it broke out below its $407.71 resistance level, yesterday. The digital asset at the time of writing was trading at $397 below its previous day’s closing price.

In fact, this further corresponded with a rise in selling pressure due to the dive below the 40 level, witnessed in the Relative Strength Index (RSI). The MACD, also, gave a sell signal, with bearish momentum visible in the short term.

With both the RSI and MACD hinted towards selling pressure, Ethereum could be seen retesting the $389.80 support level, before witnessing any pullback in prices.

Monero [XMR]

At the time of writing, Monero was trading just above its trendline around the $130.56 level. The Awesome oscillator noted bearish market momentum, with the histogram’s red bars crossing below the zero line.

The price was also re-testing the support at $128.388 as sellers tried to regain their strength around that level. Furthermore, the selling sentiment continued as the 9-day Simple Moving Average (cyan) dived below the 20 SMA (yellow) and pointed to a bearish crossover over the day.

Algorand [ALGO]

Maintaining an overall downtrend amid high selling pressure, Algorand witnessed a further dip in its price in the last 24-hours. In fact, the digital asset dived towards its support turned resistance level at $0.273

At press time, Algorand was trading at $0.280, just below the recently breached support turned resistance level. The bearishness in the digital asset was also evident from the Aroon Indicator.

In a bearish crossover, the Aroon down (Blue) moved above the Aroon up (orange). The placement of the dotted lines of the Parabolic SAR above the candles suggested a downtrend.

Therefore, a dip below the trendline could be an indication of rising selling pressure and the price going down further in the next few days.

Crypto exchange Gemini launches trading against euro

NYSE chief regulatory officer to join Andreessen Horowitz (a16z) crypto team

A graduate in Economics and International Development, Shubham enjoys researching on economic reform process, with a special focus on China.His interests lie in FinTech & blockchain technology developments across East and S.E Asia.

Binance Coin, Monero, Dogecoin Price Analysis: 08 December

Polkadot, Cosmos, Algorand Price Analysis: 08 December

Is DeFi eating Wall Street?

Ethereum long-term Price Analysis: 08 December

Ethereum, NEM, FTX Token Price Analysis: 07 December

Monero, BAT, Verge Price Analysis: 06 December