Polkadot, Ethereum Classic, Monero Price Analysis: 22 October


With the cumulative market cap falling by practically 2% during the last 24 hours, most cryptos have been largely within the purple on 22 October. Some altcoins, in actual fact, confirmed indicators of correction too. 

Polkadot and Monero, as an illustration, projected superior shopping for stress, whereas Ethereum Traditional exhibited indicators of reducing bullish energy.

Polkadot [DOT]

Supply: TradingView, DOT/USDT

DOT moved up by 1.76% and was buying and selling at $44.93, on the time of writing. It additionally famous a 13.56% seven-day enhance, indicating an total uptrend in its value trajectory. Bullish trendlines affirm the uptrend and confirmed how DOT bulls have been eager on sustaining their momentum after breaching the earlier assist degree at $33.19.

This momentum led to a robust assist degree round $42-level.

The Relative Energy Index (RSI) was on the 63.89-mark, picturing an inclination for the bulls.

The MACD was above the Sign Line, whereas the MACD histogram flashed inexperienced sign bars hinting at bullish tendencies. Nonetheless, the Quantity oscillator and histogram noticed a pointy decline in buying and selling volumes. This studying signaled a potential reversal within the close to time period.

Ethereum Traditional [ETC]

Supply: TradingView, ETC/USDT

After barely poking its resistance level that stood on the $60-mark, ETC fell by practically 2.58% during the last day and traded at $56.29. The assist degree was registered at $45.94. Key technicals directed at a potential correction in costs.

The RSI noticed a dip of 11 factors from the overbought territory to the 60.16-mark during the last day, indicating the reducing energy of the ETC bulls. The Superior Oscillator flashed purple sign bars, hinting in the direction of a potential benefit for the bears. The +DI line appeared to plunge in the direction of the south and confirmed the earlier readings that urged a bearish pattern.

The Common Directional Index displayed a robust directional value pattern because it stood on the 37.6-mark. Evaluation of the above indicators and the reducing quantity tendencies deliver forth the potential for an extra correction in costs.

Monero (XMR)

Supply: TradingView, XMR/USD

XMR hiked by 3.02% during the last 24 hours and was buying and selling at $273.23, just under its resistance level that stood at $276.29. The altcoin displayed momentum in favor of the patrons. 

The RSI was above the half-line and stood on the 63.86-mark, suggesting that the shopping for stress exceeded the promoting power. 

The Superior Oscillator flashed inexperienced sign bars, hinting at a bullish pattern. The Squeeze Momentum Indicator began to show gray dots, suggesting the tip of a squeeze interval and the potential for excessive volatility within the close to time period.

Leave a Reply