Privacy Coin Weekly Recap: Monero, Dash & Zcash performance
Privacy Coin Weekly Recap: Monero, Dash & Zcash performance

By Cryptonite | Cryptonite | 24 May 2020


 

Hello everyone, today I want to make a recap of the top 3 privacy coin, privacy is always a big concern for everyone in crypto world but also in everyday life. In this post I will touch all the 3 main coins of this category in a brief review, this may be good for our trades next week, I do this on Sunday as a “note” for the week ahead with different category of coin/token, hope you enjoy the reading.

c088c88c460601e44d99e81c434eabc3170c206e16a436f0d67446a5eed188ac.png

 

Monero 

173e0d638454836961e81e2af708cb139396bf7a2169bc2ea41d0321cc07fb10.png

 

In the last 7 days Monero almost touch a resistance positionated at 67,70 Dollar for loose ground when was clear that the obstacle was to hard to beat, bears take the lead this week pushing down the valuation till the 60 Dollar level that is seen as a support for the short term.

From this situation we may take care of the 60 Dollars support that is very close, but in case we will see further downtrend the next support is set at 56,40 and close to this level we see also another support at 54 Dollar.

Lets see what can happen on the upside, as we yet say the resistance at 67,70 Dollar must be beat for try to reach new high that can face some resistance at 70 Dollar (more a psychological level) and at 72,70 Dollar, those levels are crucial for a further uptrend.

If we take a look at a long term chart we can appreciate the nice uptrend we are in and the first level of resistance we talked at the start of this section.

fbf5e571b040402ff3ddac5ea8ec444d2e5686b67a3dc9c4a8a33a58e59eb858.png

 

 

 

Zcash 

64567dd7994b193a420dda60784006dec3b6f97745823d3bc62e2b3202f82a5a.png

 

For the long term chart we can see that also Zcash is in a uptrend and it look a solid one even if the trendline is not been touched may times, as the selling pressure could be a must at least for the start of next week we may take care of the support we will catch, at 43,60 Dollar we find the first, the second is set around 41,6 and 40 Dollar, this is a key level as if we see a breakout could mean the end  of this trendline.

The next level is not so far but could see a good battle between bulls and bears at 38 Dollar.

Our hope is to see our crypto investment prosper, than let’s see where we will find some resistance, first at 48/ 48,70 Dollar is very very close to the price we see now and can lead us to the psychological level of 50 Dollar.

Beat the 50 Dollar may lead us to the 53,2 Dollar where I think we may appreciate a decent fight for the continuation of this trend.

 

 

 

DASH 

b85c329fcd799301f90dca3c6daf5dd1982834f76732c47a07befa260776842d.png

 

Dash is since long time in a trading range, right now we can see that we are in the low side of the range, this may not worried us as this can happen, if the selling pressure persist we may face a double support at 72 Dollar first and 70 Dollar in a second time.

The breakout of this set of support would lead us to a 67 level that may be a price where buyers would be eager to be in force as from this price we yet see decent rebound.

The view of this cryptocurrency is mostly positive, in my opinion we may follow a strategy of accumulation when price touch low levels and hope in a breakout of the trading range at the upside, this drive us to check the resistance.

The level we may pay attention now is at 78,6 Dollar, a second level is set at 83,30 Dollar, those levels are not so difficult to beat as the 88,50 Dollar that will be the diehard  of the resistance right now. A breakout of this resistance would mean a breakout of the trading range that can drive us to higher levels.

 

 

 

As always thank you for reading my post and hope you enjoy the reading, always remember to do your own research before invest in any asset.



Cryptonite
Cryptonite

crypto enthusiast... just like you ;)

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.