The market has entered once again a phase of price correction, with Bitcoin resisting the actions of whales and bears that try to send it to the bottom of the 10k, while the rest of the altcoins contracts with the exception of Monero (XMR), the only one with positive benefit within the select group of the top ten crypto. Top Ten Crypto 05 September 2019 The altcoin focused on privacy, is trading at a price at the time of writing of $74,14 and a slight profit of +0.09 per cent in the last 24 hours that keeps him anchored in the last box of the top ten of the market crypto. Quote of Monero. Source: CoinMarketCap Bitcoin continues to increase its dominance with 70.7% while the total market capitalization of the market increased slightly to 267 billion dollars. Short-term chart of 1H in the exchange Binance, XMR, paradoxically, projects a large whale that seems to complete its actions on the break top of the $74,11 with strong support at $66,25 and an immediate resistance of $76,62 next to beat. Graphic Monero 1 hour The indicator Aroon presents his bullish signal superior to its counterpart, although with slight bias toward the background, which assumes a possible price correction in the next few hours the altcoin. Chaikin Money Flow tells us that for now Monero will present a bearish trend for the next few hours once you enter in correction along with the rest of the market. The indicator Momentum for its part, points out to us that a slight change towards the area of balance of ‘0’ could be in the next few hours, highlighting the entry to the correction of the altcoin. In terms of the scenario in the medium term, XMR chart 1D of Binance points out to us that the altcoin has managed to get out of a pattern H-C-H to culminate in a double-wave elliot impulse that we now see has returned to the start after falling in the key support of $64,50. The limit to this time frame is in the hundreds of dollar for XMR. Analysis Monero medium-term Parabolic SAR tells us that for now, the altcoin has the bearish trend, to stand above the candlestick chart of XMR to the expectation that it continues the projected path. Awesome Oscillator has begun to change color, although still in the negative with higher minimums. Finally, the RSI indicator remains stable in the boundary area sale-purchase, waiting on the actions of the altcoin in the next few hours. In conclusion, Monero could come in the next few hours in a recession, the product of a price correction that would trigger probably a new bullish rally in the medium term. The following two tabs change content below. Engineer and passionate about technology, Blockchain and the Bitcoin since 2009.
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