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Decred, Cosmos, Monero Price: Strong technicals dismiss market concerns

Chayanika Deka

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Source: Pixabay

Not all coins have noted bullish price action after the latest rally in the cryptocurrency market. However, despite appearing bearish, the following altcoins did register some positive technical indices.

Monero [XMR]

On the development side, a Monero developer recently announced the release of a new version – v0.15.0.5, dubbed ‘Carbon Chamaeleon.’

The privacy coin fell by 0.32% over the last 24-hours, with XMR‘s press time price standing at $46.9 as it held a market cap of $820.9 million and a 24-hour trading volume of $130.4%

Resistance: $69.46, $85.6

Support: $31.6

MACD: The MACD indicator aligned with the XMR bulls, with the signal line hovering below.

Chaikin Money Flow: The CMF indicator also headed for a bullish revival.

Source: XMR/USD on TradingView

Cosmos [ATOM]

In a boost for the ecosystem, Binance U.S recently announced plans for listing ATOM, the native currency of the interoperable blockchain, Cosmos. At press time, ATOM was valued at $1.95 after a minor decline of 1.36% over the past 24-hours. Additionally, it held a market cap of $372.46 million and a 24-hour trading volume of $116.8 million.

Resistance: $3.85, $5.04

Support: $1.58

Parabolic SAR: The dotted markers appeared below the ATOM price candles, indicative of a bullish price trend for the coin.

Awesome Oscillator: The closing green lines on the AO indicator also implied a bullish phase for the coin.

Source: XMR/USD on TradingView

Decred [DCR]

Decred [DCR], launched in 2016, is originally a Bitcoin codebase fork. This project incorporates governance functions using both hybrid Proof of Work [PoW] as well as Proof of Stake [PoS] consensus system.

The DCR token rose by 3.13%, something that pushed its value to $11.28. At press time, DCR had registered a market cap of $121.6 million and a 24-hour trading volume of $76.004 million.

Resistance: $16.33, $20.9

Support: $9.29

Klinger Oscillator: The KO line was above the signal line, a bullish sign for the coin.

Relative Strength Index: The RSI appeared to be heading towards the neutral region of 50-median. This might be a sign of investor revival in the market.

Source: DCR/USD on TradingView

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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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