EOS, Monero, Zcash, Holo and 0x Close Previous Support as Market Faces Resistance Levels
Nov 18, 2019 at 12:56 //
News
The altcoin under review were making an impressive move in previous weeks. However, as most of the coins reach their major resistance levels, the various coins dropped in price valuation. Some of the coins are in a sideways move, pending the determination of the next price direction.
EOS /USD Major Trend: Ranging
EOS has been stagnant in price movement since November 3. The coin is fluctuating between $3.35 and $3.68. In November, the bulls made an attempt at the $3.70 resistance but were repelled. The selling pressure has made the coin to fluctuate in the current price range. Nevertheless, if the $3.35 support cracks, the coin will drop either to $3.0 or $3.2 price level. On the other hand, if the bulls retest the $3.70 price level and break it, EOS will move up to $4 price level.
XMR /USD Major Trend: Ranging
After its recent bullish move in October, Monero is facing resistance at $66. In November the price has tested the resistance at $66 but pulled back. Two days later, a repeat retest was made and coin dropped to a low at $62. However, if the price had fallen below the resistance line of the descending channel, the downtrend would have resumed. Nevertheless, the coin is in a bullish move to reach the previous resistance. A break at the resistance will propel the price to reach a high of $70 or $80 price level.
ZEC /USD Major Trend: Ranging
Zcash is consolidating at the bottom of the chart after the last bearish impulse in September. The pair is in a tight between the levels of $30 and $40. The market is in a tight consolidation as the EMAs are horizontally flat. The Fibonacci tool has indicated that Zcash will fall and reverse at the 1.272 extension level. From the price action, the market is neither under bull nor bear control.
HOT /USD Major Trend: Ranging
The HOT/USD pair is currently at the $0.0041price level. The pair is fluctuating between $0.0041 and $0.01. The bulls had made concerted efforts to break the resistance at $0.01 but were repelled. The resistance was the previous support in October 2018. The market is making an upward move to retest the resistance level.
ZRX/USD Major Trend: Bearish
0x has been in a bullish trend in October. The price rose and was resisted twice at the $0.34 price level. The resistance led to the formation of a bearish double top. The coin may decline to a low of $0.26 and commence a bullish move. However, if the $0.26 support cracks, the price will decline to a low of $0.22 price level.
Disclaimer. This analysis and forecast are the personal opinions of the author are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds.OhNoCryptocurrency via https://ift.tt/2PblI7a @coinidol.com By Coin Idol, @Khareem Sudlow