Home Monero Monero, Algorand, Hedera Hashgraph, Enjin Coin Price Analysis: 07 April

Monero, Algorand, Hedera Hashgraph, Enjin Coin Price Analysis: 07 April

5 min read

Monero confirmed bullish conduct because it approached the essential resistance stage of $282.9. Algorand awaited extra alerts to interrupt away from its vary, whereas Hedera Hashgraph was tipped to lose out on its $0.308-support. Lastly, Enjin Coin projected a subdued market if the value falls beneath its long-term shifting common line.

Monero [XMR]

Supply: XMR/USD, TradingView

Monero’s market bulls ignored bearish divergences talked about in a previous analysis and continued to push north on the 4-hour timeframe. Having overturned $262.67 to a area of assist, the bulls now eyed the higher ceiling at $282.9. Clearing this stage would have sure implications on its long-term trajectory. Not solely would a breakout full XMR’s restoration because the late February pullback, however would additionally permit the cryptocurrency to keep up its upward trajectory over the long term.

The MACD was near a bearish crossover, however the identical was nonetheless above the half-line and the bulls shouldn’t be threatened of dropping the market. In the meantime, capital inflows have been sturdy, in keeping with the Chaikin Cash Stream.

Algorand [ALGO]

Supply: ALGO/USD, TradingView

On the 4-hour chart, it appeared as if Algorand broke out from its vary of $1.44-$1.23, however a bearish candlestick denied a breakout risk not less than over the quick time period. Nonetheless, buying and selling volumes have been on the rise and it was potential that the bulls have been gathering power earlier than the following huge swing.

The MACD ought to be noticed rigorously over the approaching classes to grasp ALGO’s trajectory. If the MACD strikes beneath equilibrium after a bearish crossover, then ALGO would break down from its channel and head in direction of the $1-mark. The ADX remained flattened at 18 and confirmed a scarcity of development. For a northbound breakout, each the MACD and volumes should development larger.

Hedera Hashgraph [HBAR]

Supply: HBAR/USD, TradingView

It appeared like solely a matter of time until Hedera Hashgraph misplaced out to the $0.308-support on the 4-hour chart. Thus far, the aforementioned stage has defended a sell-off on a number of events during the last 25 days, however ominous indicators have been current available in the market. Buying and selling volumes have been on the decline over the previous couple of days, whereas the OBV drifted decrease after a relentless uptrend seen throughout March.

Momentum was additionally on the bearish facet, in keeping with the Superior Oscillator, and the identical remained beneath the equilibrium stage over the previous seven days. In case of a breakdown, HBAR may discover assist at $0.251.

Enjin Coin [ENJ]

Supply: ENJ/USD, TradingView

Enjin Coin flipped the $2.33 area to a line of resistance as soon as once more after bearish motion during the last 24 hours. Furthermore, the value was at risk of dropping beneath its 200-SMA (inexperienced) and this is able to result in a subdued market over the approaching weeks.

The Parabolic SAR’s dotted markers moved beneath the candlesticks and highlighted the stated downtrend. The RSI was near the oversold territory.

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