Cryptocurrencies are recovering from the bear markets. Monero, Zcash, and Chainlink are almost out of the downtrend zone as the cryptos make positive moves. Bitcoin SV and Stellar are currently in a sideways trend as the coins battle to come out of the downtrend zone.
On April 10, HTC disclosed a plan to support its flagship blockchain phone, EXODUS 1s, with a Monero mining feature. This signifies a start of mobile mining, which holds a promise to bring power costs down and make cryptocurrency mining more decentralized.
The cryptocurrencies in bear markets have reached their respective oversold regions. The bulls are emerging from the oversold regions pushing the altcoins in an uptrend. The altcoins will resume uptrend if the initial resistances are breached.
By March 9, 2020, Chainlink, Binance Coin and Monero had fallen to their respective lows as the markets held or faced further selling pressure. Conversely, Stellar and Maker have continued their sideways moves.
The crypto currency markets take on another dimension as they survive the overbought market conditions. Chainlink, Binance Coin, Monero and Huobi Token have resumed an upward move to retest the recent highs. Conversely, HOLO is still in a sideways trend but is still making an upward move
This week the crypto currencies outlook has divergence performance. Ethereum Classic and Monero are still making positive moves as the respective markets reach the overbought region of the daily indicators. The altcoins are presently retracing in the overbought regions. Meanwhile, Tezos, Stellar and LINK are presently in a sideways trend as the coins battle the overhead resistances.
Cryptocurrencies are gradually entering a bull market as the downtrend ends. Bitcoin SV, DASH, Monero and NEO are making impressive moves but their prices dry up at higher price levels. Dogecoin is bearish as it continues its downward move.
This week Monero and Bitcoin SV are performing creditably as the coins are trading above the EMAs. In their respective moves, the coins are facing resistance at a higher price level. This is largely due to a lack of buying power to push the coin upward. Maker is the only coin that had been in a sideways move since April. Lastly, Stellar and Binance Coin's selling pressure has overdone.
Undoubtedly, the coins under review were in consolidation in December but are making a surprising bullish move. DASH, Dogecoin, Monero, and Cosmos broke over EMAs which is a positive sign that the coins are going to rise. Meanwhile, Stellar is consolidating above $0.045low and it has failed to rebound.