Aave, Cosmos, Monero Price Movement Analysis for 28th March, 2021

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Based on the concentration of big wallets, there was some on-chain evidence of a drive towards $450 for Aave. The medium-term outlook was neutral on the charts, but a split over $360 would suggest bullish power. Cosmos also met substantial resistance at $19.8, while Monero was consolidating above a degree of support at $215.

Aave  [AAVE]

An earlier review expected a bullish scenario for AAVE (in cyan). The $340 level has been held; the $344 level has not been yielded to the bears. Resistance at $360 has not yet been overcome, but it may be. The RSI was above neutral 50, but neither this nor the recent buying amount on OBV indicated a significant upward step.

Closing below $340 would invalidate the bullish scenario for AAVE, and $325 and $300 will definitely be revisited as help.

Cosmos [ATOM]

Aave, Cosmos, Monero Price Analysis: 28 March

Source: ATOM/USD on TradingView

Following ATOM’s bounce off the $16 area of demand and the resulting flip of $18 from resistance to help, the Awesome Oscillator crossed over the zero axis.

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The 20-period EMA (white) was heading below the 50-period EMA (yellow), suggesting recent bearish pressure. A jump beyond the $19.8 level could lead to a test of the $21.3 resistance level.

The $19.8 resistance level was illustrated by the Supertrend Predictor as a point where it would switch from signalling a short to signalling a long.

Monero [XMR]

Aave, Cosmos, Monero Price Analysis: 28 March

Source: XMR/USDT on TradingView

Monero was consolidating above the $215 level of support once more, with daily candlewicks reaching as high as $224. The $200-$230 range represents an accumulation vehicle for long-term traders.

Bollinger band width was declining again on the 4-hour charts, while Chaikin Money Flow was in neutral territory, indicating that neither buyers nor sellers were in charge of the market.

Volatility was present for scalp dealing, but it came with its own set of risks.

The shorter timeframes revealed some bearish leverage and a return to $215. As a result, scalp longs could be joined in the $213-$215 range, with a stop-loss at $212.4 and a take-profit at $223.8.

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