Ethereum Classic, Monero, NANO Price Analysis: 10 October – AMBCrypto EnglishOctober 10, 2020
With the cryptocurrency recently recording its high for 2020, Monero could be at the beginning of a long-awaited bull market. NANO too was registering strong buying momentum, with the digital asset’s charts noting a bullish rectangle pattern.
Finally, Ethereum Classic also continued to record appreciable gains on its charts, rising significantly above a crucial support level over the previous week.
Ethereum Classic [ETC]
The digital asset was in a short-term uptrend, with ETC displaying signs of bullishness. At press time, ETC was trading at a value of $5.296. In fact, Ethereum Classic, over the last 24 hours, had moved above the 50% retracement zone and the $5.26-support, levels marked by the Fibonacci retracement tool.
Further, the Directional Movement Index with a rising ADX and +DMI (blue) above the -DMI (orange) pointed to the strengthening of an upward price trend.
If buyers were to continue to reaffirm their bullish posture, the price in the coming days may even reach the 23.65% retracement zone.
The privacy coin Monero, at press time, was trading at $118.202. XMR breached its resistance of $120 for the first time since June 2019, with the market bulls once again demonstrating