Monero, Ontology, DigiByte Price Analysis: 19 November

Thursday 19 November 2020, 6:33 PM AEST - 2 months ago

Bitcoins brief breach of $18,000 and its sustained consolidation above $17,000 has renewed the bullishness in the market, with many of the industrys alts climbing on the charts on the back of BTCs performance. The cases of Monero, Ontology, and DigiByte followed this template, with their price performances replicating the general optimism in the market.

Monero [XMR]

Monero-1.pngSource: XMR/USD on TradingView

Monero, the industrys leading privacy coin, was rescued from further sideways movement on the charts by Bitcoins surge a few days ago. It should be noted, however, that the said sideways movement followed weeks of bullish movement that saw Monero climb on the charts in the months of September and October. At the time of writing, while XMR had surged by over 12% on the back of the aforementioned hike, it was still some way away from touching its local top on the price charts.

The recent bullishness was highlighted by the cryptocurrencys technical indicators as while the Parabolic SARs dotted markers were well below the price candles, the Relative Strength Index was holding steady right between the oversold and overbought zones.

Weeks after climbing to a price level unseen in 2 years, Monero was in the news after it was revealed that it was hit by a Sybil attack.

Ontology [ONT]

Ontolgogy-PA-2.pngSource: ONT/USD on TradingView

Unlike Monero, Ontology has been on a steady downtrend over the past two months, with ONT falling sharply on its charts since hitting its high for 2020. While Bitcoins latest hike did push ONT up by over 8% on the charts, O ...

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