Monero, Klaytn, Chainlink Price Analysis: 04 May

By Saif Naqvi2 days ago

Monero needed to defend $388 from bearish pressure and this would lead to a breakout above $440. Klaytn’s recovery was restricted below $2.6, while Chainlink was projected to break north from its pattern and head towards $49.

Monero [XMR]

Since the last week of March, Monero has seen exponential growth. A low of $204 seen during March 25 and a high of $438 a week ago represented gains of over 110%. For the last few sessions, the rally was kept at bay under the $440-mark and some bearishness was noted in the market. According to Awesome Oscillator’sred bars, momentum was on the bearish side, but the hourly timeframe did see a positive switch up. A strong region of support lay at $388 and maintain this would allow for a breakout above $440.

AD

Meanwhile, ADX rested at 15 and highlighted a weak trend. The 24-hour trading volumes jumped by 40% in the last 24-hours but were yet to touch $1 Billion. Expect some sideways movement before the volumes jump further.

Klaytn [KLAY]

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