NEO and EOS continued to set new records. After the withdrawals, there is indecision in an instant market.
Monero got a good momentum but couldn’t hold on. This increase in volume and demand makes things difficult for XMR.
Monero has been struggling to test the $ 156.10 resistance point for a while. At the beginning of February, we can say that it has managed to break the resistance point that it could not pass the asset test and performed quite well in the last 2 days.
There is currently a decline for the asset, where the rise has reached the level of $ 182 during the day. At the time of writing, the asset was traded at $ 169. The XMR bulls are working to keep the asset in the $ 170 band. When looking at the 4-hour charts for the asset that has been at these levels for a while, it can be seen that there is a jump well above the 200-day moving average.
This indicator has actually been giving signals that an increase may come since the beginning of February. The RSI has moved from the overbought zone to a more neutral level. Apart from that, the MACD data has declined slightly after the daily peak but is still in the strong positive zone. The CMF indicator dropped to its lowest point in almost a year the other day. Although recent movements are on the upside, it is located at -0.23 levels below the 0 neutral level. The expansion in the B. bands is seen as upward.
Monero has risen a little, but this is not exactly enough indicators to surpass $ 186 ATH and form a trend. Low demand for Monero in particular creates a serious problem. Although some indicators give sell signals for Monero, it is better to wait for a while.
For now, signals of the continuation of Monero’s uptrend should increase. On the other hand, the XMR bulls’ price reduction below this support level may bring the continuity of the decline with some indicators rising. In the first stage, it can be decreased to $ 161.26 and then to the $ 150 band by continuing to decline.
EOS, which followed a stable horizontal movement as of February, gained momentum rapidly after breaking the resistance point on February 7 and broke its own value record earlier today. Rapid acceleration has brought huge returns as it moves out of the consolidated situation for EOS, up to $ 4.5.
RSI data was giving strong sell signals while under the rapid rise yesterday. But during the day it has stabilized and is moving towards the buy signal. MACD data is also showing a decrease compared to yesterday. The 4-hour data still reports a positive trend.
EOS had many difficulties until it came to ATH and managed to turn the situation in its favor, albeit partially. The asset, which first broke the $ 4.25 EOS resistance point, suffered a retracement after the rise and accepted this resistance point as a new support point for itself. The asset, which could last for a long time at the $ 4.25 support, unfortunately pulled back.
The OBV indicator appears to be so high for the first time since the beginning of the year. In the increase, the investor mass and the volume expanded, however, the indicator that was effective in the increase seems to have increased again in the last 8-hour view. The withdrawal continued until $ 3.95 at the time of writing. This withdrawal is likely to continue for a while, but the increase in volume and demand can continue the trend without pausing. But the probability of retraction for a while more is more likely for recovery. Finally, if the withdrawal continues, the asset may decline to $ 3.84, and this should not be forgotten.
WHAT IS THAT
NEO, which had fluctuated between $ 22 and $ 25 in an almost straight line since the end of January, broke the resistance level of $ 26.8 on February 8 and went up. The asset has continued to rise for the past 3 days and has set a new record in the middle of the day. After rising to $ 36, the RSI data shows that it has entered the oversold zone. Due to the rapid and high sales, NEO could not maintain its value and fell. This spike in the RSI resulted in a decline to $ 29.
Moving to the overbought point in the evening, the RSI is now moving out of the RSI overbought zone towards the neutral zone. The asset, which held for a while at $ 31, seems to have formed a support point for itself for now. There are some improvements, but it is not possible to say something definite for trend continuity with these data. Its clearance from the speculative investor field and the mobility of the bulls keeps the value somewhat stable. But if the RSI moves back to the oversold point, the value could drop below $ 25.