At the time of this writing, Monero was plagued by sales pressure in the market and lost the key support level at $ 130. Dogecoin, on the other hand, showed an incredible 90% increase before withdrawing some of the earnings.
Monero (XMR) price analysis
Monero has been in a bearish trend on the charts since mid-January. The $ 130 level is an important level for the bulls in the market, and if this is lost, the XMR could drop to $ 115. This move will likely leave the critical support level at $ 130 to the bears.
XMR’s bulls surpassed $ 130 in December and the drop in early January saw the $ 130 zone provide strong support for a recovery towards $ 170 once again.
The RSI remained close to the oversold zone on the chart. While $ 130 has been retested as resistance recently, XMR is heading down at the time of writing.
Dogecoin (DOGE) price analysis
DOGE took an incredible rally to test the $ 0.0145 level once again after consolidating around $ 0.0088 for about two weeks.
The trading volume was similar to the previous hard jumps, while OBV rose in parallel. An anonymous user’s tweets about Bitcoin and Dogecoin are believed to have played a role in the recent DOGE price surge, as the excitement about the soon-to-be-pumping GameStop stocks continues.