Monero (XMR) remains on the rise, creeping toward a key resistance point, while the same goes for Litecoin (LTC) which struggles to overcome a specific resistance level. Conversely, Cosmos (ATOM) has continued to trade within bearish grounds but is signifying approaching oversold levels. These three cryptocurrencies are at turning points which prepares the market for its shifts.
Monero (XMR) Shows Bullish Momentum, Nears Critical Resistance
- Current price:$173.15
- Market cap:$3.1B
XMR/USDT 24-hour price chart :Source(Tradingview)
Monero (XMR) has been steadily rising since mid-June, gaining new momentum recently. On the KuCoin exchange, its price reached $174.53, up 2.30% for the day. As the price approaches the previous highs near $180, traders see this level as a potential resistance zone.
The relative Strength Index (RSI) at 64. 44 thus confirm that XMR is still bullish and the possibility of getting more returns. The MACD also shows a bullish trend and rising histogram bars further confirm the bullish signal.
Litecoin (LTC) Faces Resistance, Struggles to Gain Momentum
- Current price:$64.84
- Market cap:$4.8B
LTC/USDT 24-hour price chart :Source(Tradingview)
Litecoin (LTC) shows a different pattern, with its price moving sideways . Currently trading at $83.21, LTC has faced selling pressure, reflected in a 1.43% daily decline. The resistance level near $85 has proven challenging, as indicated by low trading volume and a neutral RSI of 47.69.
The MACD suggests a bearish sentiment, with the line below the signal line. LTC may struggle to break through this resistance without significant buying momentum, potentially leading to further downside.
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Cosmos (ATOM) Struggles in Bearish Territory, Approaching Oversold Conditions
- Current price:$4.21
- Market cap:$1.6B
ATOM/USD 24 hour price chart :Source(Tradingview)
Cosmos (ATOM) experienced a steady decline from March to September 2024, dropping from about $15 to around $6.89 by late August. Despite minor rebounds, ATOM struggled to maintain upward momentum, stabilizing between $6.50 and $7.00.
The RSI at 35.81 signals that ATOM is nearing oversold conditions, hinting at potential further declines. The MACD, although still bearish, shows a narrowing gap between the lines, suggesting a possible shift in momentum. However, ATOM’s overall sentiment remains bearish without a strong bullish catalyst.
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