Some of the market’s altcoins like Monero and Dash failed to recoup their losses after Bittrex’s delisting was announced. However, XMR and DASH weren’t the only ones. Indeed, Ethereum Classic was also projecting a move south as the market sought to control prices.
Monero appears to be upset by Bittrex’s withdrawal announcement at the time of publication. The privacy room was unable to recover from the losses suffered at the start of the year. After falling nearly 16% four days ago, XMR was consolidating between $ 143.34 and $ 129.23. Bittrex has set January 15 as the last date to trade Monero on its platform. The price of crypto could be tight for a week and a half. Investors are looking to unload the cryptocurrency. Therefore, in the short term, declines in the market may continue to push prices down on the charts.
The red bars ofAwesome oscillator rose below zero. This indicates that the downtrend was increasing in the market.
The Parabolic SAR dotted markers have been placed above the candlesticks. They point to the bearish nature of prices. Fall for XMR beyond its current channel could see the crypto price testing the next available support at $ 124.89
Ethereum classic [ETC]
After rising nearly 22% in three days, Ethereum Classic consolidated between $ 7.05 and $ 6.74. The selling pressure thwarted the bullish movement. While the market momentum of press time was not based on the bulls or the bears. The indicators suggested that the declines could prevail in the short term and pull the price lower.
The MACD: his fast line registered a slight drop towards the Signal line. The histogram fell towards zero. If a bearish cross occurs, prices could move down and test the support at $ 6.25.
The Stochastic RSI was heading south towards the oversold region from the neutral zone. While this in itself is not conclusive enough, it can be inferred that ETC may lose more value until the index rebounds.
Much like Monero, Dash was also in the spotlight after Bittrex’s delisting was announced on January 1. Since the verdict, Dash has seen millions of dollars erased from its market value after prices fell more than 14%. In fact, cryptocurrency finds itself among the biggest weekly losers, along with Monero.
TheOn Balance volume suggests to us that selling pressure has continued to affect the price of crypto since Bittrex’s announcement.
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