Tezos, Chainlink, Monero Technical Analysis On 21st October 2020

Source- Unsplash

After a rough week, the crypto-verse seemed to be sluggishly heading towards recovery. However, all eyes were on the king coin. Bitcoin had finally pushed past $12K was trading at $12,196.45 during the time of writing. The global crypto market cap had also surpassed $370 billion and sustained a 2.19% rise pushing the final digit to $372.44 billion, at press time.

Tezos [XTZ]

While most of the prominent cryptocurrencies were seen witnessing a dainty increase in their price, a few others were recording massive slumps. Tezos [XTZ] was one among the latter. The eighteenth largest coin was trading for $2.12 while its price was dropping by 4.78%. The coin endured a dip of 11.36% over the last seven days.

A reversal of trend could be expected in the XTZ market as key indicators revealed that the bulls had made an entry in the short term price chart of Tezos. The Relative Strength Index [RSI] was in the buyers’ zone above the 50 median. Awesome Oscillator formed green closing bars inviting the bulls into the XTZ market.

Chainlink [LINK]

LINK was finally over its hot streak as the coin was one of worst-hit over the last few weeks. The altcoin continued its stay in the seventh position with a market cap of $4 billion. LINK was priced at $10.41, during the time of writing and was slumping by 3.34%.

Bulls were undoubtedly kicking out the bears from the LINK market. The MACD line took over the signal line, just today forming a bullish crossover. The Klinger Oscillator further affirmed the invasion of bulls with the formation of bullish crossover.

Monero [XMR]

Privacy coin XMR was had transitioned beyond $100 all the way to $120 in a short course of time. However, it seemed like it wouldn’t retain its position for a long time as it was depleting by 4.06% over the last 24-hours. The coin was trading at $121.07 with a market cap of $2 billion, at press time.

Looks like the bulls were entering the crypto market and ousting the bears. Several coins welcomed the bulls into their market and XMRwas one of them. The formation of dotted lines initiated by the Parabolic SAR indicator favored the bulls. The Chaikin Money Flow [CMF] indicator pointed out a bullish sentiment with the CMF indicator above zero.

Sahana Kiran: Experienced Journalist with a demonstrated history of working in the online media industry. Skilled in Photography, Feature Writing, Journalism, Online Journalism, and Web Content Writing. Strong media and communication professional with a Bachelor of Arts - BA focused in Journalism