Monero, Ontology, DigiByte Price Analysis: 19 November – AMBCrypto EnglishNovember 19, 2020
Bitcoin’s brief breach of $18,000 and its sustained consolidation above $17,000 has renewed the bullishness in the market, with many of the industry’s alts climbing on the charts on the back of BTC’s performance. The cases of Monero, Ontology, and DigiByte followed this template, with their price performances replicating the general optimism in the market.
Monero, the industry’s leading privacy coin, was rescued from further sideways movement on the charts by Bitcoin’s surge a few days ago. It should be noted, however, that the said sideways movement followed weeks of bullish movement that saw Monero climb on the charts in the months of September and October. At the time of writing, while XMR had surged by over 12% on the back of the aforementioned hike, it was still some way away from touching its local top on the price charts.
The recent bullishness was highlighted by the cryptocurrency’s technical indicators as while the Parabolic SAR’s dotted markers were well below the price candles, the Relative Strength Index was holding steady right between the oversold and overbought zones.
Weeks after climbing to a price level unseen in 2 years, Monero was in the news after it was revealed that it was hit by a Sybil attack.