Home Monero Bitcoin Cash, Dogecoin, Monero Price Analysis: 22 February

Bitcoin Cash, Dogecoin, Monero Price Analysis: 22 February

4 min read

BCH’s downtrend was clearer on the hourly charts as the value shaped decrease highs. DOGE moved inside a set channel and was more likely to stay above $0.0054 over the approaching classes. Monero might be in for extra losses because the on-chain metrics supported an prolonged bearish end result.

Bitcoin Money [BCH]

Supply: BCH/USD, TradingView

On the each day time-frame, Bitcoin Cash gave the impression to be consolidating as the value transfer rangebound after snapping an area excessive at over $720. Nonetheless, a downtrend emerged on the hourly timeframe as the value shaped decrease highs and decrease lows over the previous couple of classes.

The RSI touched the oversold zone, whereas the Superior Oscillator’s crimson bars rose under the half-line. The present value stage may additionally current some shopping for alternatives for merchants. A bullish end result may see BCH transfer nearer to the $687 resistance.

Dogecoin [DOGE]

Supply: DOGE/USD, TradingView

Whereas weekly losses of almost 2% appeared forgivable for Dogecoin, it painted a considerably somber image when in comparison with its month-to-month returns of over 500%. Furthermore, the 4-hour chart confirmed that the Doge-hype was on a decline as the value moved under a number of help strains since its ATH.

The Bollinger Bands remained constricted and confirmed low volatility because the cryptocurrency stabilized at decrease ranges. Regardless of the current bearishness, DOGE appears to have found new help ranges because of the current bullish development. Because the MACD was bullish-neutral, anticipate the ‘meme coin’ to carry above its present help till a robust uptrend emerges.

Monero [XMR]

Supply: XMR/USD, TradingView

On the 4-hour timeframe, Monero misplaced out on the $252 help stage after a correction of over 20% dragged the value decrease from its native excessive of above $280. Furthermore, the losses may possible lengthen over the following few classes as the symptoms sided with the promoting aspect.

The MACD line moved properly under the sign line, whereas the histogram famous a rise in bearish momentum. The CMF additionally slipped below the half-line as capital drifted away from the crypto asset. Additional losses may see XMR take a look at the following line of protection at $214.6.

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