Monero, Dogecoin, Tezos Price Analysis: 29 August

Saturday 29 August 2020, 6:36 PM AEST - 1 month ago

Tezos and Monero seemed to be caught in a downtrend from mid-August. However, while Tezos showed signs of continuing bearish momentum at press time, Monero might just have turned a corner by showing signals of bullishness. Dogecoin remains the Internets favorite memecoin, but traders and investors seem to have lost their interest in the asset. Dogecoin did not show signs of a major move on a longer time-frame. In the short-term, however, DOGE could reclaim a resistance level shortly.

Tezos [XTZ]

PA-1-XTZ-1.pngSource: XTZ/USD on TradingView

Tezos has been unable to record a higher high since reaching its ATH on the charts at $4.47. Moreover, Tezos has been unable to even consolidate in the face of selling pressure. This has contributed to XTZ sliding past support after support.

The Directional Movement Index underlined a strong bearish trend in the market, with the ADX (yellow) close to 40. Further, the –DMI (pink) was far above +DMI (blue), a sign of bears dominating the XTZ market.

The next level of support for Tezos was at $3.

Monero [XMR]

PA-1-XMR-1.pngSource: XMR/USDT on TradingView

Monero has been seeing a rise in daily trading volume over the past few days now, with a 24-hour volume of $121 million, at press time. This could imply that a strong move is in the making for Monero.

XMR tested its support at $86 and ended its recent downtrend at tha ...

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