Coin, Monero, Ontology Price Movement Analysis for 6th March, 2021

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CRO predicted a range-bound trend while the instability persisted on the lower side. Monero had failed to sustain a pace above its $225.5 resistance as the bears were asserting their dominance of the stock. At last, Ontology flipped a main resistance line at $1.05, but seemed impossible to hang on to the above in the next few trading sessions. Coin [CRO]

The psychological effect of Bitcoin’s hike to its newest ATH at the end of February was monumental for the wider crypto-market. Altcoins such as Coin, which had been silent since the beginning of 2021, jumped by 62 per cent on a single day after the King’s coin rose to the north of the 58,000-level. However, the same was true in both forms, and CRO recorded a loss of more than 30% the very next day after Bitcoin had been corrected on the map.

Since then, CRO has entered the accumulation era, mostly trading between $0.16 and $0.1.44, as neither side has been able to claim market supremacy. At the time of publishing, the Bollinger Bands were constrained and reported low price volatility. The ADX rested about the 10-mark and repeated the state of balance in the CRO industry. In the short term, CRO will begin to drift sideways as it expects better signals from the wider market.

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Monero [XMR]

Source: XMR/USD, TradingView

Despite many attempts, Monero’s bulls were unable to climb above the coveted resistance of $225.5, with the stock lowering each time after hitting the upper ceiling. The lack of interest on purchases may be one of many reasons that adversely affected off-late prices. The same thing was apparent in the On Balance Volume after it had formed lower lows after XMR had dropped from a local peak of nearly $280.

Press time downtrend have set the bulls at risk of losing to the 200-SMA. In addition, the MACD line moved below the Signal line and highlighted the bearish market conditions. Further sale at the press time price level could bring the $168.9 help under the spotlight.

Ontology [ONT]

Source: ONT/USD, TradingView

The increase of more than 11 per cent in the last 24 hours has allowed Ontology’s bulls to shift the critical support level to $1.05, a point that has not been broken since a strong pullback in the wider market nearly two weeks ago. The green bars of the Awesome Oscillator began to climb past the half-mark as the momentum settled with the customers. What needs to be seen is whether bulls can keep the price going, given the consolidated essence of Bitcoin.

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The Stochastic RSI was swift to offset any excitement and favoured a short-term pull back from the over-purchased zone.


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