Most of the altcoins in the market continued to move within predictable price ranges at the time of going to press with no clear buy signals. Polkadot climbed above its critical resistance level of $ 16.70 after a long time. Monero gained 3.4% in 24 hours amid news of the Kaseya ransomware attack. Finally, VET registered slight buying pressure on the price charts.

Speckle [DOT]

Polkadot, Monero and VeChain Price Analysis: July 7th

DOT / USD, TradingView

DOT traded within a narrow range of $ 14.11 to $ 16.70. However, at the time of writing, the Alt had risen above the resistance level of $ 16.70 as it was available for $ 16.76. The price of the asset has seen a 5% increase in the past 24 hours. In addition, the buying pressure increased and that could be the reason for the price increase.

The Relative Strength Index pictured a positive change in buying pressure as the indicator moves north.

The Average direction index underlined a trendless price movement for the Alt as an indicator remained just below the 20 mark. The indicator has risen slightly over the past 24 hours and if the upward trend continues, the indicator could soon rise above the 20 mark.

The Bollinger bands open at press time, suggesting market volatility may increase in the short term.

Monero [XMR]

Polkadot, Monero and VeChain Price Analysis: July 7th

XMR / USD, TradingView

At the time of writing, XMR was valued at a price level of $ 224.93 after gaining 3.4% in 24 hours. Altcoin’s market conditions were neutral, with mostly lateral movements recorded in the technical analysis charts. However, the digital asset has increased. So the bullish momentum could take over the market if crypto continues its uptrend.

Consistent with the bullish signal statement above, the is Great oscillator recognized the onset of bullish momentum with the presence of green signal bars. The Bollinger bands observed a certain divergence, so that the price movement in the next trading sessions could show a certain volatility.

The Parabolic SARs There were dotted lines below the candlesticks, indicating an upward trend.

VeChain [VET]

Polkadot, Monero and VeChain Price Analysis: July 7th

VET / USD, TradingView

VETPrice action hovered above critical $ 0.082 support level for the past few days which, if hurt only slightly, could fuel the asset’s decline to $ 0.067. At press time, the asset was worth $ 0.085, down 0.6% in 24 hours. If the market bulls emerge and drive the price higher, the alt price would attempt to test the $ 0.102 level.

A bullish crossover was identified on July 7th as the MACD Indicator showed the appearance of a short-term bullish signal. After running parallel to the median line, Relative Strength Index Registered a minute-by-minute increase, one that suggests more buyers than sellers at press time.

Finally, that Bollinger bands strongly tightened and ran in parallel, a sign that no volatility is expected in the upcoming trading sessions.


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