Because the market continues its downward motion, Bitcoin [BTC] struggled to remain inside the $22K mark. Different cash adopted go well with of their worth plunge as most of them fell under their costs set final week.
Cosmos [ATOM], Monero [XMR], and Stellar [XLM] mirrored this unfavorable motion respectively as their worth noticed a pointy fall.
Cosmos (ATOM)
Supply: ATOM/USDT TradingView
At press time, the worth of ATOM was $10.67 with a 12.95% drop within the final seven days. The Chaikin Cash Stream (CMF) indicator confirmed -0.02 indicating weak promoting strain whereas the Superior Oscillator (AO) was additionally hinting at a attainable pull again.
The Bollinger Bands (BB) will also be seen widening after a brief interval of compression on 18 August as worth of the crypto is hovering under the center band. The 11.043 mark is performing as a resistance degree for the crypto after its fall on 19 August. If ATOM breaks previous this degree, a transfer upward may be anticipated.
Stellar (XLM)
XLM is buying and selling at $0.11 after seeing a pointy fall from the 0.23 ranges on 19 August. The 0.10 degree is performing as assist for the crypto whereas the Relative Power Index (RSI) is hovering near the 30-mark nearly falling into the oversold territory.
The AO additionally exhibits indicators of a pullback as XLM continues to remain on a bearish momentum. The crypto fell nearly 14.27% from its earlier ranges final week mimicking the market motion.
Monero (XMR)
Supply: XMR/Tether TradingView
Monero was buying and selling at $145.46 following a gradual downtrend in its worth reflecting the bearish market sentiment. The CMF is at -0.22 indicating a robust promoting strain whereas the On-Steadiness Quantity (OBV) additionally displays this downtrend affirmation.
The crypto’s worth may be seen shifting inside a descending channel since 18 August with the 141.5 degree performing as a assist. If XMR breaks the 154.7 degree then it may be anticipated to maneuver additional upwards.