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Cryptocurrencies Slowly Recover Amidst Sleepy Markets

Jan 06, 2020 at 08:53 // News

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.

4gDASH /USD Major Trend: Bearish 

Recently, DASH fell to a $40 low and consolidated over it. The support is holding as DASH makes an encouraging move. At present, DASH has successfully broken over the EMAs, this portends that the coin’s rise is guaranteed. The coin is heading toward the downtrend line to break it. It is anticipated that the breaching of the downtrend line will catapult DASH will be out of the bear market. DASH is likely to rally over $60. This will also mean that the bear market has ended. DASH is trading above level 52 of the RSI. It indicates that DASH is above the center line and it is rising.

  

DOGE/USD Major Trend: Bearish 

DOGE was earlier in a bear market. DOGE slumped from a high of $0.0040 to a low of $0.0019. Interestingly, the support seems to be holding as DOGE makes an impressive move over $0.0020. Expectantly, once the bulls are able to cross over the EMAs, the uptrend is likely. Dogecoin is presumed to rise and reach a high of $0.0025.Meanwhile, the Fibonacci has indicated that DOGE is likely to reverse at the 1.272 extensions or $0.0020. DOGE is in a bullish momentum as it trades over the 40% range of stochastic. 

XMR/USD Major Trend: Bearish

Monero has taken a bold step as the bulls break over the EMAs. Expectantly, the bulls will have to put more effort to push over the downtrend line. A successful rise over the downtrend line and the price closing...

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