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Ethereum Classic, Tezos, Monero price analysis: July 12

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Among Ethereum Classic, Tezos, and Monero, only the last coin looks confidently bullish while the other two have been met with resistance. With altcoins surging in the past week or two, there is hope for all the coins to surge higher.

Ethereum Classic

ETCUSD TradingView

From the above chart, it is clear that ETC is still respecting resistance at $6.89 and $6.54. At press time, price of each ETC was $6.509 and had a market cap of $757 million. As seen, the coin is now facing a resistance at $6.54, and by the looks of it, the price will fail to breach the level. This will push the price down to $6.293 and perhaps lower if the bearish pressure is more. Supporting this scenario is MACD indicator which has been heading down, towards the zero-line.


XTZUSD TradingView

Tezos, like ETC, has hit resistance at $2.74 twice and failed to breach it. While RSI is very close to the overbought zone, it hasn’t hit it yet. Additionally, even if resistance at $2.74 is breached another resistance is present at $2.86. With $2.65 per XTZ, the coin has a market cap of $1.95 billion and has seen a surge of 2.67% surge in the last 24-hours.


XMRUSD TradingView

Privacy coin, Monero is very close to hitting $70 with a market cap of $1.23 billion. The coin has seen a 1.61% surge in the last 24 hours. and is looking bullish. The coin has repeatedly hit the $70-level more than once in the last month, however, has failed to breach it.

Stochastic RSI showed that the indicator was reaching the overbought zone. Another failure will push the price down from $70.50 to $61.75, which would be an 11.63% fall from the current level.


Akash is a full-time cryptocurrency writer and an analyst at AMBCrypto. He is an engineering graduate with an avid interest in finance and economics. Attracted to the chaos of trading, Akash has invested in BTC, ETH and XRP for educational purposes.
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