Cosmos, Decred, Monero Price Movement Analysis for 12th April, 2021

Decred could reach $200 if its press-time support holds. Monero broke out in the opposite direction of an ascending channel, forming a new high over $340. ATOM’s indicators ruled out a step below its 200-SMA.

Monero [XMR]

Source: XMR/USD, TradingView

Though Monero was moving in an ascending channel, a breakout in the opposite direction negated the trend. The breakout price reached $340, and despite the appearance of a bearish candlestick on the 4-hour timeline, bullish market conditions may continue to support the price on the coming sessions.

According to the new reading, the ADX was pointing north from 44, and a reversal seemed to be out of the question. The RSI indicated that the market was overbought, but recovery could be postponed before Monero reaches the next psychological threshold of $350.

Cosmos [ATOM]

Source: ATOM/USD, TradingView

While Cosmos broke through its upper resistance mark of $22.67, a reversal quickly followed, dragging the price down below this level. Bearish divergences were observed around the RSI, and the upcoming sessions will determine ATOM’s mid-to-long term trajectory. The bulls would like to limit incoming losses at $19.84-support, since a jump below this would result in a breakdown from the 200-SMA (green)

This could also lead to a prolonged bearish scenario, with support at $16.7 being highlighted once more. A higher trending OBV, on the other hand, ruled out such a result. Despite the fact that the RSI has been trending downward in recent days, it has flattened out at 57, indicating some bullish momentum at the current price stage.

Decred [DCR]

Source: DCR/USD, TradingView

Decred has been on a bullish trend since the beginning of 2021, and it also finished the month of March with a rebound above late-February peaks. Though DCR traded at lower levels in the latter half of March, the market rebounded strongly from $143.8-support. If the press-time support is sustained, the price could also break through the $200 barrier in the future.

The MACD signalling a bearish crossover, but the index was still above the half-line, indicating that the bulls were not in imminent danger. And if the price falls, it might find another boost at $185.3. Though OBV had fallen marginally at the time of writing, its overall trend since January had remained positive. DCR could suffer short-term losses, but the long-term trend was expected to be favourable.

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