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Monero, Ontology, DigiByte Price Analysis: 19 October

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The Crypto Fear and Greed Index was noting a figure of 55, at the time of writing, the same reading as the previous day. Monero was retracing recent gains made, but it did show some signs of heading north. Further, while Ontology formed a bearish pattern on the charts, DigiByte looked to be resolutely heading south.

Monero [XMR]

Monero, Ontology, DigiByte Price Analysis: 18 October

Source: XMR/USD on TradingView

XMR was trading at $122, at press time. As shown by the Fibonacci Retracement tool, this was close to the 38.2% retracement level of the move up from $93 to $136.

The MACD generated a weak buy signal as it formed a bullish crossover under zero. A move by the MACD into bullish territory can confirm that XMR is heading to make more gains.

There was good buying pressure around the $120-level, as evidenced by the tail wicks of the candles at that price level as the market’s bulls outfoxed the bears, seeking to push the prices down.

XMR’s price can expect to face some resistance around the 23.6% retracement level – $126.28.

In other news, Monero’s hard fork went live recently, although the blockchain will not split and no new coin was created.

Ontology [ONT]

Monero, Ontology, DigiByte Price Analysis: 18 October

Source: ONT/USD on TradingView

ONT formed a descending triangle (white) on the charts. This is a bearish pattern, one that generally sees the price break to the downside. The trading volume has also been trending lower for the duration the price has been inside the said formation.

The next level of support for the crypto-asset lay at $0.45. A breakout to the downside in a trading session with heavy trading volume can be taken as confirmation of a move down.

DigiByte [DGB]

Monero, Ontology, DigiByte Price Analysis: 18 October

Source: DGB/USD on TradingView

Since the last week of September, DigiByte has been trending downwards as it set lower highs. The RSI also stayed under 50 for the most part, pointing to bearish momentum for the crypto-asset.

A few days ago, the price had formed a bullish divergence (white) at the support level, but only managed to register a gain of 2.38%, before the bears asserted themselves again.

DGB, later, slipped under its support at the $0.022-level and could re-test it as resistance before a move south.


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.
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