Monero, NEM, ATOM Price Analysis: 08 September

As Bitcoin’s rates obtained a large strike owing to the lawful tender blunder in El Salvador, the altcoin market appears to have actually been seriously impacted. Monero, NEM and also COSMOS dove on their particular graphes. XMR traded at its multi-week low cost after a 16.2% decrease. XEM was parked listed below its month-long assistance line of $0.184, while ATOM collapsed by 25.2% over the last 24 hrs.

Monero (XMR)

Monero, NEM and ATOM Price Analysis: 08 September

Monero’s price plunged 16.2% over the last 24 hrs and also was seen trading at $252.59 This specific price factor was the three-week reduced for the altcoin. Monero’s candle holders stayed under the 4-hour 20-50-200 SMA, suggesting that the energy belonged with the vendors.

Other indications stayed exceptionally bearish. On additional relocation downwards, the coin can discover assistance on $252.32, which the coin hasn’t dipped listed below for over a month. Relative Strength Index endangered to dip right into the oversold area, the sign got on a multi-month reduced.

Additionally, MACD presented high red bars on its pie chart while Awesome Oscillator blinked red signal bars. In situation, purchasing stress restores, XMR could try to fall over the $281.74 resistance mark. Other degrees stood at $305.62 and also at the multi-month high of $332.

NEM (XEM)

Monero, NEM and ATOM Price Analysis: 08 September

XEM dived by 20.2% over the last 24 hrs and also was valued at $0.186. The coin lately damaged listed below its practically month enduring assistance line of $0.184. With an additional bearish press, the altcoin will certainly trade near the $0.159 price line. The token hasn’t traded listed below the previously mentioned assistance line in over a month’s time.

MACD revealed red bars on the pie chart and also Awesome Oscillator additionally presented red signal bars. Relative Strength Index stood in the bearish area, after marketing stress decreased a little. All 3 indications got on a multi-month reduced.

If purchasing stress begins to discover its back to the marketplace, the coin can direct to fall over the $0.208 price mark. Additional resistance lines stood at $0.228 and afterwards at $0.249.

Cosmos (ATOM)

Monero, NEM and ATOM Price Analysis: 08 September

ATOM sagged by a substantial 25.2% and also was valued at $20.13. It turned around the gains it transformed a week as it stood at its one-week low cost factor. Further decrease, might trigger it to rest near the $17.28, a price degree it last touched 3 weeks back.

Not having the ability to preserve rates over $17.28 would certainly press ATOM to its month-to-month low of $11.98. Relative Strength Index struck a multi-month reduced as the coin endangered to relocate right into the oversold area. MACD kept in mind red bars on the pie chart.

Capital inflows additionally decreased as the Chaikin Money Flow was seen listed below the half-line. A price turnaround might drive ATOM to review its $22.42 resistance mark and afterwards reattempt to trade near its multi-month high of $26.90.

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John Lesley/ author of the article

John Lesley is an experienced trader specializing in technical analysis and forecasting of the cryptocurrency market. He has over 10 years of experience with a wide range of markets and assets - currencies, indices and commodities.John is the author of popular topics on major forums with millions of views and works as both an analyst and a professional trader for both clients and himself.

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