While Monero lost momentum in the short term, its long-term outlook showed a strong upward trend. Polkadot created a bullish reversal pattern that could move the price towards $ 5.8.
Monero (XMR) price analysis
The $ 148 and $ 160 levels are a significant range that XMR has been trading for several days. This can be expected to continue in the short term. XMR has had a strong performance in the past weeks. It may be necessary to gather strength before rising to $ 170, a two-year high and the next resistance level for the bulls.
The MACD has formed a bearish trend and is correcting after gaining momentum as it approaches zero.
For the price, a close below $ 148 could make it revisit $ 137, while a move over $ 160 could mean a strong uptrend.
Polkadot (DOT) price analysis
We can say that the DOT is still in an upward trend, as the RSI has not dropped significantly below 50. However, the price has not made a higher bottom in the past three days. It looks like a descending triangle creates a pattern.
The trade volume is also declining in the same period. This indicates that a breakout may occur soon. A candle near the top of the triangle can raise DOT to $ 5.8.
A candle below the $ 5.2 support level could result in the DOT losing one more time.