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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. $LTC may struggle to break through this resistance without significant buying momentum, potentially leading to further downside.
Cosmos ($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.