Monero, Chainlink, BitTorrent Market Analysis for 24th January 2021

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Major market cryptocurrencies have been consolidated, however in most sectors, positive movements have been overtaken by bearish ones. Large cryptocurrencies such as Chainlink [LINK], Monero [XMR], and BitTorrent [BTT] are currently seeing increasing pressure from vendors.

Meanwhile, for the world’s biggest cryptocurrency – Bitcoin, the last 24 hours have seen price gains by a marginal 0.8 percent and is currently priced at $32,144 in press time.


Monero [XMR]

Source: XMRUSD on TradingView

Monero’s price has already seen a lengthy period of contraction between $143.43 and $149.96. As the valuation recovered from the previous decline, a secure region was created for trading. The 50 moving average shaped an arc under the candlesticks that helped its price.

Although, like other altcoin markets, the sellers have taken a role on the market and the devaluation has started. The RSI was shifting away from alignment, while the MACD was seeing a continually evolving pattern.

See also  Binance Coin, WAVES, Uniswap Price Movement Analysis for 3rd August, 2021

Chainlink [LINK]

Source: LINKUSD on TradingView

According to the aforementioned table, the new price for Chainlink [LINK] was between $23.64 and $25.02. The actual exchange volume of the digital commodity was $23.74, although the general price pattern appeared to benefit short sellers.

The valuation exceeded the $23.64 support, and the Bollinger bands noticed that the market was not as unpredictable as it was before. The signal line was above the price bars, noting the degree of bearishness visible on the market. Whereas, at present, the 50 moving average helped the market at $23.75.

The Relative Strength Index showed that the asset was heading rapidly into the oversold sector.

BitTorrent [BTT]

Source: BTTUSD on TradingView

The BitTorrent price recently peaked and was quickly reversed in the following hours. As the price was smaller, the 50 moving average was similar to the candlestick, allowing the price take help from the $0,00034 price range.

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Meanwhile, RSI noticed that traders were juggling the purchasing and sale of the coin. The Amazing Oscillator showed that the momentum has escaped the market and is likely to remain in the current zone at least in the short term.


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