XMR, DOT analysis – the growing trend continues, where are the other targets?
2 min readToday we look at the analysis of two high-cap altcoins XMR and DOT. Not just these two altcoins, but the whole the market continues its growing trend. Nevertheless, volumes are minimal and the question therefore remains whether the growing trend will not end in the short term. So let’s look at the nearest targets of these cryptocurrencies.
XMR / USD
Monero continues the growing flag, which should eventually be closed by bear lego. For now, however, growth continues and the price will face resistance on the surface double top $ 275. If the price fails at this value, then at least it will go to the sideway structure. If, on the other hand, the price overcomes this resistance, we are heading for another $ 290 target.
In the long run, however, the price is still in the sideway structure, which has been in force since the end of May. Unlike, for example, ETH and BTC, the price of Monera has still not exceeded the resistance of this storage zone. RSI in the meantime indicates negative divergence. On the other hand, the price tested the local minimum support flag and the trend continues in the short term.
DOT / USD
Like Monero, Polkadot continues in the growing leg and tested the support of this leg with the last minimum. Here, too, I expect the continuing growing trend with targets at the $ 24.00 and $ 25,50 levels. A bullish indicator is also the fact that the volumes during the rising leg are significantly higher than during the previous falling leg.
In the long run, we could also conclude here that the price has not yet left the accumulation zone. However, the sentiment, volumes and stability of the trend indicate the establishment of a growing trend a termination of accumulation. RSI, meanwhile, indicates a negative divergence and slowdown in the trend. In the near future, therefore, it would not be surprising if the market recorded short-term correction.
