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Cardano, Monero, Zcash Price Analysis: 23 June

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A minor upswing in the cryptocurrency market seemed to have catapulted its collective market cap to $273 billion, with Bitcoin’s dominance holding steady at 64.7%, at the time of writing. Following the same, many of the market’s altcoins also recorded minor upticks of their own on their charts.

Cardano [ADA]

Source: ADA/USD on TradingView

Cardano’s native cryptocurrency, ADA, had posted a stunning surge lately, a surge supported by the hype around the upcoming Shelley mainnet launch. ADA’s price gained major traction after IOHK Co-founder Charles Hoskinson revealed the roadmap for Cardano’s much-awaited upgrade. More recently, IOHK successfully tested the internal Cardano “ITN Balance Check,” as well as the Byron to Shelley hard fork.

ADA, at press time, was noting a market cap of $2.14 billion with a 24-hour trading volume of $205.9 million. It was priced at $0.082 after climbing by 3.01% over the last 24-hours.

Resistance: $0.0989

Support: $0.0488

MACD: The MACD line was resting below the signal line, a sign of bearishness in the market

Chaikin Money Flow: The CMF, however, was in bullish territory as it was spiking, indicating inflow of capital into the ADA market

Monero [XMR]

Source: XMR/USD on TradingView

Monero has been long been a popular choice for shady entities who wish to leverage the coin, primarily because of its privacy features. In the latest development for Monero, Australia-based drinks manufacturer, Lion, became a victim of a ransomware attack for the second time, one wherein a cybercriminal group named ‘REvil’ demanded a ransom of $800,000 to be paid in Monero. Despite all these controversies, however, the coin has maintained a steady uptrend on the charts.

XMR was up by 2.2% over the past 24-hours, driving its value to $66.05, at the time of writing. Furthermore, the privacy coin recorded a market cap of $1.162 billion and a 24-hour trading volume of $83.95 million.

Resistance: $85.47

Support: $32.29

Parabolic SAR: The dotted markers above Monero’s price candles pointed to a bullish phase for the coin

Awesome Oscillator: The green closing bars also underlined a bullish trend for the coin

ZCash [ZEC]

Source: ZEC/USD on TradingView

Zcash’s first-ever halving is expected to happen sometime in November this year. This will come at a critical time since ZEC has been engulfed in reports about its high inflation rate, with many expecting the supply cut event to alleviate some of these concerns.

While there have been no significant price actions for ZEC, the privacy coin has maintained an upward trend over the last couple of months. At press time, ZEC was trading at $53 after a minor surge of 1.76% over the last 24-hours. Its market cap stood $500.2 million, while its 24-hour trading volume was registered at $244.7 million.

Resistance: $63.27

Support: $25.48

Klinger Oscillator: The KO underwent a bullish crossover with the signal line

Relative Strength Index: The RSI was above the 50-median neutral line, a sign of high buying pressure among investors in the ZEC coin market


Chayanika is a full-time cryptocurrency journalist at AMBCrypto. A graduate in Political Science and Journalism, her writing is centered around regulation and policy-making regarding the cryptocurrency sector.
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