Dash, NEM continue on positive run as Maker struggles
The collapsing crypto-market on 12 March impacted some altcoins more than the rest. For example, Maker absorbed a lot of impact, with most of its gains being wiped out, while NEM and Dash continued on their positive YTD journeys.
Maker shredded its losses and was at a 27.25% loss in 2020. The 28th ranked coin on CMC has been trying to make progress, however, it has largely struggled to keep its price up.
At press time, MKR was valued at $295.127 as the resistance was at 359.53 and support was at $238.59. The coin has not fallen to these depths since 2018, and due to a lack of resistances in the lower levels, it might find it comparatively easier to rise with the right boost.
According to the Relative Strength Index, the coin saw equal pressure from buyers and sellers. It was recently in the overbought zone, however, it pushed its way to equilibrium. Maker Foundation was in the news recently after it transferred the control of the MKR token to the community as a step towards decentralization.
The drastic fall did not impact the price of NEM token by a lot, and thus, it stood at a profit of 16.30% in 2020. The 26th ranked coin on CMC was reporting a market cap of $332.92 million as it surged by 2.29% in a day. Its 24-hour volume was noted to be $21.8 million, at press time.
According to the MACD indicator, the MACD line was close to crossing over with the signal line. However, until then, the trend appeared to be mildly bullish for XEM.
Dash’s price surge at the beginning of the year had more or less maintained the token’s growth this year, until the fall on 12 March. However, this fall did not have a huge impact on the coin as its YTD return stood at 57.29% in 2020. The coin was being traded at $65.89, while the resistance rested at $75.64 and support was at $59.72.
According to the Awesome Oscillator, the coin reflected minimal momentum to keep up any trend. However, the last candle spike was green, indicating a bullish ripple.
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