Monero, Ethereum Classic, Decred Price Analysis: 13 November – AMBCrypto EnglishNovember 13, 2020
Bitcoin’s performance over the past few days has had a significant impact on the rest of the crypto-market. While the collective market cap surged, individual tokens on the charts prospered as well. However, this wasn’t the case universally as quite a few cryptocurrencies chose to move in the opposite direction. The cases of Monero, Ethereum Classic, and Decred highlighted such opposing behavior.
Monero, the crypto-market’s premier privacy coin, was one of the many alts to register positive movement in the month of September. However, late-October and November have been a different story, with XMR falling dramatically on the charts. In fact, while Bitcoin, a cryptocurrency Monero shares a high correlation with, surged on the charts, Monero fell, with the altcoin down by almost 8% on the charts over the week.
At the time of writing, XRM was trading well below its local top, with the privacy coin registering YTD returns of 142%, at press time.
The ensuing bearishness in the XMR market was evidenced by its technical indicators as while the Parabolic SAR’s dotted markers were well above the price candles, the MACD line, on the wrong side of the Signal line, was heading below the histogram.
Monero made headlines a few days ago after it was revealed that it was the target of a “clumsy,” Sybil attack.
Ethereum Classic [ETC]