Home Coins Cardano (ADA) Ethereum, Monero, Algorand Price Analysis: 16 September

Ethereum, Monero, Algorand Price Analysis: 16 September


Ethereum formed a bearish pattern and subsequently saw its price drop. However, at the time of writing, it could be staging a recovery and confirming a bullish pattern formed on a longer time-frame. Monero continued to move upward in an ascending channel formed in early September, while Algorand showed a strengthening bearish trend.

Ethereum [ETH]

Ethereum, Monero, Algorand Price Analysis: 16 September

Source: ETH/USD on TradingView

Ethereum formed a rising wedge, a bearish reversal pattern that saw the price drop from $389 to touch $355. The pattern, upon confirmation, presents a price target for the asset to the base of the wedge formed. This would indicate ETH is headed to $325 in the coming days.

However, as highlighted by VPVR, there has been significant trading activity at the $355 and $335 levels. They are likely to serve as strong support for the price to bounce off of.

Analysis of longer time frames indicated that Ethereum could possibly be poised for a drop. The analysis also noted the possibility of a bullish continuation pattern. Price breakout upward past $365 could confirm the bullish pattern, while a break to the downside past $355 would confirm bearishness.

Monero [XMR]

Ethereum, Monero, Algorand Price Analysis: 16 September

Source: XMR/USD on TradingView

Monero continued to move within the ascending channel. OBV formed higher lows, highlighted by the white trendline. This showed that buyer interest has propelled the price upwards.

Chaikin Money Flow also showed buyers in control of the XMR market in the past few days. Even when CMF dipped beneath -0.05 in the past couple weeks, the price stayed flat and did not drop much.

This strengthened the bullish case for XMR in the coming days. It is likely that XMR rises to test the resistance level at $97 once more.

Algorand [ALGO]

Ethereum, Monero, Algorand Price Analysis: 16 September

Source: ALGO/USD on TradingView

Algorand continued to toil under bearish pressure. It has been setting lower highs for the past 30 days and did not show an inclination to reverse the trend.

Directional Movement Index showed a strengthening bearish trend. ADX (yellow) rose above 20, as -DMI (pink) also rose on the indicator.

In other news, Ledger tweeted that self staking of ALGO was possible on its application Ledger Live. The benefit of staking via a hardware wallet instead of an exchange, users retain full control of their private keys.





Source link

Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
474FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,579FollowersFollow
2,230SubscribersSubscribe
USD - United States Dollar
EUR
1.19
GBP
1.30
CHF
1.10
NOK
0.11
JPY
0.01
CAD
0.76
AUD
0.73

Most Popular

ERC-20 token’s market cap overtakes Ethereum’s

The latest findings by Santiment, published in Cointelegraph Consulting’s biweekly newsletter, suggest that Ethereum is temporarily being ‘professionalized’. Since the September 2nd market crash, the...

GPU Manufacturer Nvidia Buys Chip Maker ARM for $40 Billion

California-based Nvidia is buying British computer chip designer Arm Holdings from Softbank Group Corp. in a deal worth $40 billion.Nvidia, which specializes in...

Timers’ Ongoing IPM Presale Will Help Tackle Challenges of the Next Industrial Revolution

For the first time in history, a human’s intrinsic ‘time value’ is being used as a currency for trading, as IPM is...

Despite yETH returns of 2%, Yearn pushes forward with WBTC Vault

The popular yield farming decentralized finance (DeFi) protocol Yearn Finance is progressing with its forthcoming Wrapped Bitcoin (WBTC) Vault.The team has submitted a MakerDAO...
bitcoin
Bitcoin (BTC) $ 10,984.18
ethereum
Ethereum (ETH) $ 387.65
ripple
XRP (XRP) $ 0.254502
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 238.28
bitcoin-cash-sv
Bitcoin SV (BSV) $ 164.16
litecoin
Litecoin (LTC) $ 48.82
eos
EOS (EOS) $ 2.75
binancecoin
Binance Coin (BNB) $ 27.56
okb
OKB (OKB) $ 6.16
tezos
Tezos (XTZ) $ 2.49
leo-token
LEO Token (LEO) $ 1.19
cardano
Cardano (ADA) $ 0.093474
monero
Monero (XMR) $ 92.59
stellar
Stellar (XLM) $ 0.079875
chainlink
Chainlink (LINK) $ 10.89
huobi-token
Huobi Token (HT) $ 4.85
tron
TRON (TRX) $ 0.029215
usd-coin
USD Coin (USDC) $ 1.00
dash
Dash (DASH) $ 72.88
neo
NEO (NEO) $ 24.47
iota
IOTA (MIOTA) $ 0.277974
nem
NEM (XEM) $ 0.105370
zcash
Zcash (ZEC) $ 59.92
maker
Maker (MKR) $ 491.45
paxos-standard
Paxos Standard (PAX) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 5.19
vechain
VeChain (VET) $ 0.014023
true-usd
TrueUSD (TUSD) $ 1.00
ftx-token
FTX Token (FTT) $ 3.88
kucoin-shares
KuCoin Shares (KCS) $ 1.19
waves
Waves (WAVES) $ 2.51