As Bitcoin’s prices received a massive blow owing to the legal tender fiasco in El Salvador, the altcoin market seems to have been severely affected. Monero, NEM and also COSMOS dove on their graphes. XMR traded at its multi-week low price after a 16.2% decline. XEM was laid low under its one-month support line of $ 0.184, while ATOM fell by 25.2% over the past 24 hours.
Monero (XMR)
Monero’s price plummeted 16.2% over the last 24 hours and was seen trading at $252.59 This particular price point was the three-week low for the altcoin. Owners of Monero candles stayed less than 4 hours of 20-50-200 SMA, suggesting that the energy belonged to vendors.
Other indicators remained extremely bearish. With additional transfers down, the currency can detect support for $ 252.32, which the currency has not been included below for more than a month. Relative Strength Index threatened to dip into the oversold territory, the indicator was on a multi-month low.
Additionally, the MACD presented red bars on its pie chart while Strange Oscillator bars marked red. In case, buying pressure revives, XMR might attempt to topple over the $281.74 resistance mark. Some degrees stood at $ 305.62 and also at the long-term length of $ 332.
NEM (XEM)
XEM plunged by 20.2% over the last 24 hours and was priced at $0.186. The most recently damaged currency is listed under the $ 0.184 monthly permanent support line. With a further bearish push, the altcoin will trade near the $0.159 price line. The token has not traded listed below the previously mentioned support line for more than one month.
MACD showed red bars on the histogram and Awesome Oscillator also displayed red signal bars. The Relative Force Index stood in the bearish zone, after the market pressure dropped slightly. All three indicators were on a multi-month low.
If stress purchases begin to detect a return to the market, the currency may point to a fall above the $ 0.208 price mark. Additional resistance lines stood at $0.228 and then at $0.249.
Cosmos (ATOM)
ATOM dropped by 25.2% significantly and was also valued at $ 20.13. It reversed the gains it made over a week as it stood at its one-week low price point. Further decline, could lead to a break around $ 17.28, a price level that touched 3 weeks back.
Not being able to maintain prices over $17.28 would push ATOM to its monthly low of $11.98. The Relief Force Index hit a reduction for many months when the currency was in danger of moving to the best-selling area. MACD noted red bars on the histogram.
Capital inflows also decreased as the Chaikin Cash Flow appeared to be listed below the half line. A price reversal could propel ATOM to revisit its $22.42 resistance mark and then reattempt to trade near its multi-month high of $26.90.
