456 Interactions, 2 today
Monero did not appear likely to crack through its press time resistance because its on-chain metrics flashed red signals at press time. UNI could see consolidation coming around its press time price before extending its clear uptrend. Finally, the market bulls of Zcash could face some stiff opposition in their attempt to move above the $140.3 resistance range.
Resistance at $231 proved to be a formidable hurdle, as Monero struggled to overturn that amount despite a larger market pull in late February. The OBV was unable to pick up and ascend to the amount seen last month, underlining the lack of purchasing demand on the market. In addition, the index was pointing south at the time of publishing, indicating any sales as XMR had dropped below $220.
A bearish crossover in the MACD could make it tougher for the bulls to force a northbound breakout. Conversely, moving below the press time support level could see bears pull XMR down to the next support level at $195.64.
At the time of publication, Uniswap was traded in the Red Territory and was down by 5% in the last 24 hours. The fall saw UNI miss out on the $31.8 support as the momentum moved to the sales side. The same thing was noticeable on the Amazing Oscillator after the creation of a sequence of consecutive red bars. However, the Stochastic RSI was pointing up marginally from the oversold area. This indicated that the UNI correction process was drawing to an end.
The trade rates were below the $1 billion mark and have not yet assisted a price swing over the next few sessions. Any consolidation at the press time price level can be forced to step on until UNI returns to its uptrend on the charts.
Since rebounding back from its $108.4 support, Zcash has slowly increased in charts and also posted returns of more than 20% relative to the press time price range. The Parabolic SAR dotted markers pushed below the candlesticks as ZEC sustained its uptrend when targeting the upper ceiling at $140.3. The bulls, though, faced some obstacles in their road to rehabilitation.
The Amazing Oscillator revealed that the momentum was clearly on the bearish side, in press time. However, the bulls were inclined to hang on to urgent assistance, even in the case of a bearish result. If the assistance is not sustained, ZEC could see an expanded selling to the $108.4 area.