ZEC, XMR, DASH Gain Ground As Signal Announces Support
2 min readTable of Contents
Monero (XMR) has been increasing since March 25. However, it has yet to break out above the February high of $288.
Zcash (ZEC) has broken out above the $183 resistance area. After reclaiming it, it is aiming for $244.
Dash (DASH) has reclaimed the $250 resistance area and is aiming for $330.
Monero (XMR)
XMR has been moving upwards since March 25. It managed to reclaim the $244 area on March 31 and validated it as support shortly afterward.
It began another upward move after, but the February highs have rejected it at $288.
There is a considerable bearish divergence in the RSI. Thus, a short-term rejection is likely.
Afterward, XMR would be likely to break out above this area. If so, the token would find the next resistance area at $358.
Highlights
- XMR has reclaimed the $245 resistance area.
- There is resistance at $288.
Zcash (ZEC)
ZEC has been increasing since Feb. 23, when it had reached a low of $103. The increase accelerated on March 25, and the token proceeded to break out from the February highs at $23 on April 4.
The increase transpired shortly after the mobile payments application Signal announced that it will now accept donations in numerous cryptocurrencies, including ZEC.
Afterward, the price purportedly broke down from this level but reclaimed it shortly afterward. This is a bullish development that often leads to a significant upward movement.
Technical indicators are bullish. The Stochastic oscillator has made a bullish cross. The RSI is above 50 and increasing. The MACD is positive and increasing.
Therefore, it is likely that the token increases towards the closest resistance area at $244.
Highlights
- ZEC has reclaimed the $183 area.
- Technical indicators are bullish.
Dash (DASH)
DASH has been moving upwards since March 25. It reclaimed the $250 resistance area shortly afterward and then validated it as support.
As long as it’s trading above this level, it is expected to increase towards the next resistance at $330 gradually.
Highlights
- DASH has reclaimed the $250 resistance area.
- The next resistance is found at $330.
Signal
The messaging app recently announced that their new feature that they will allow the exchange of cryptocurrencies on their application. Due to WhatsApp’s recent privacy changes, Signal has been an alternate application for users to migrate to. In fact, even Elon Musk suggested on Twitter that users should “Use Signal” instead of other messaging platforms.
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