The support given by the 100-twelve hour moving average, around $10,900, was violated.
This moving average currently sits around the middle line of the descending parallel channel where Bitcoin has been trading since June 26.
A break below the 150-twelve hour moving average will signal a plunge to the 200-twelve hour moving average or the bottom of the descending parallel channel.
Even though the moving averages suggest that Monero could continue declining to around $82, the Adam and Eve double bottom pattern that formed on the 12-hour chart indicates otherwise.
A move above the 100-day moving average could hint at a continuation of the uptrend.
As a matter of fact, the moving average convergence divergence, which is commonly used to follow the path of a trend and calculate its momentum, recently had a bearish cross on the 1-day chart.
Over three days ago the 12-month exponential moving average moved below the 26-month exponential moving average, signaling a further decline.
Due to the high volatility that Tezos experienced over the last month, a move above the 23.6 percent Fibonacci retracement level or the recent high of $1.64 could signal the continuation of the bullish trend.
Following its high of $0.503 on April 21, Basic Attention Token entered a bearish trend that has taken its price down to $0.187, representing a 63 percent plunge.
Although Basic Attention Token is on a bearish trend since April-over the last month BAT, XMR, and XTZ seem to be closely tethered to Bitcoin's price action.
Bitcoin drags Monero, Tezos, and Basic Attention Token into large losses
Publicado en Aug 14, 2019
by Cryptoslate | Publicado en Coinage
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