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Litecoin, EOS, Monero Technical Analysis On 12th November 2020

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Bitcoin and several altcoins, such as Litecoin, EOS as well as Monero are showed hints of breaking above their respective resistance points despite a minor slip. This indicated that bullish pressure continued to dominate the cryptocurrency market. Additionally, the global cryptocurrency market cap stood at $451.3 billion, at press time

Litecoin [LTC]:

LTC 1 e1605161785295

Over the past 24-hours, Litecoin [LTC] was down by 1.38% as it held a price of $58.94. At the time of writing, the coin registered a market cap of $3.88 billion and a 24-hour trading volume of $2.37 billion.

Despite a significant surge closer to its resistance level, LTC’s technicals depicted a conflicted picture. A bullish crossover was rejected by the Klinger Oscillator even as the coin surged to levels not seen in more than a month.

The MACD, however, underwent a bullish crossover. This suggested that even as the bulls were buying on dips, they remained in control of the coin’s price. The overhead resistance in case of an uptrend stood at $63. In case of a bearish reversal, Litecoin could be dragged to the immediate support area of $54.

EOS:

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EOS was priced at $2.49 after a minor dip of 0.83% over the last 24-hour. The coin recorded a market cap of $2.33 billion, and a 24-hour trading volume of $1.60 billion, at the time of writing.

The Awesome Oscillator flipped bearish as the red closing bar emerged suggesting a bearish momentum. The Chaikin Money Flow also appeared to be struggling to retain position above the zero-line indicating a decline in the inflow of capital in the coin market.

If the bears gain control, it could try to sink the price to $1.90 while the resistance stood at $2.72

Monero [XMR]:

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Monero [XMR] has had an impressive streak this quarter as it was currently valued at $114.43. The privacy-focused coin appeared to be consolidating within a tight range. It noted a decline of 1.34% over the past 24-hours as it held a market cap of $2.03 billion and a 24-hour trading volume of $1.105 billion.

The dotted markers, however, aligned above the coin resisting a further uptrend. The RSI, also, slipped below the 50-median line suggesting a sentiment of high sell pressure in the coin market. This could potentially indicate that XMR could have topped out at $133.

If the bearish pressure gains momentum, Monero’s price could spiral to its immediate support level of $90.8

Monero Cryptocurrency, Tron Create Waves on Cryptocurrency Charts as Bitcoin Begins to Lose sheen

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The past week has been quite tumultuous for the cryptocurrency market with the focus shifting onto the industry from the mainstream spectrum. After a massive Twitter security breach asked users to donate Bitcoin to see their funds double, all eyes have been on the cryptocurrency’s price.

While the  Bitcoin’s price actually dipped, other altcoins witnessed significant changes in their price points, with Tron and Monero cryptocurrency acting as prime examples. Over the last 24 hours, the altcoins have undergone some bearish changes that would set the tone for growth next week.

 Monero cryptocurrency

Monero cryptocurrency, the privacy-oriented cryptocurrency had dropped a couple of positions on the charts and traded from the 15th place. At the time of writing, Monero cryptocurrency was worth $67.91 with a total market cap of $1.197 billion. A 3.38 percent price fall in the last 24-hours caused the daily trading volume to clock in at $81.984 million.

While the  Bitcoin's price actually dipped, other altcoins witnessed significant changes in their price points, with Tron and Monero acting as prime examples. Over the last 24 hours, the altcoins have undergone some bearish changes that would set the tone for growth next week.

The Parabolic SAR for Monero cryptocurrency was below the price candles which meant that the cryptocurrency was heading into a bullish realm. This was a complete trend reversal from June when the PSAR markers stayed above the candles. The Chaikin Money Flow indicator had climbed above the zero line, a sign that the capital coming into the Monero cryptocurrency market was much higher than that leaving it.

Tron

Next on the list of influential altcoin performers was Tron, as the Jcryptocurrencys struggled to bear the backlash from founder Justin Sun’s Twitter account hack. Despite the negative news, Tron had only lost 0.56 percent over the previous day to trade at $0.017. Tron’s market cap was $1.143 billion while the 24-hour market volume maintained a healthy $391.53 million.

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Just like Monero cryptocurrency, Tron’s CMF had also risen above the zero line., As the company announces more and more developments, the capital coming into the Tron market is only going to increase. The Parabolic SAR for TRX also sided with the bull as the markers stayed below the price candles. It is quite heartening to see a change in the way people perceive altcoins as evidenced by the growing interest around the field.