Price Analysis

Altcoin Market Update: ZIL, XMR, RSR

Altcoin Market Update: ZIL, XMR, RSR
BTC has broken all records and has surged over $32,000. This is a historic moment for all crypto traders. But what will happen now? Will we see a correction in the BTC and altcoin market?

Bitcoin dominance has been steady and is not decreasing. As long as BTC dominance is high and BTC corrects from $32,000, we are likely to see a drop in the altcoin market as well. However, if we see a drop in BTC dominance and BTC starts consolidating in this region, the next alt season will be huge.

Let us review ZIL, XMR, and RSR.

ZIL/USD – Price Prediction

ZIL

ZIL has grown almost three times in value in a month’s time from $0.03x towards $0.08X. ZIL has established a support at $0.0764. As long as ZIL stays above $0.0764, we can start seeing a move towards $0.085, $0.096, $0.105, and $0.113. Failure to hold the support of $0.0764 could lead to a ZIL price drop towards $0.0686.

XMR/USD – Price Prediction

XMR

XMR lost two major supports of $160 and $148. It is currently trading above the support of $135. If the support of $135 breaks, XMR could drop towards $125, $119, $109, and $97. If the support of $135 holds, we could see a move in XMR price towards $148 and $160.

RSR/USD – Price Prediction

RSR

RSR is currently trading close to its final resistance. If it can break this resistance, RSR will enter a price discovery zone. Breaking $0.0257 could lead to a move towards $0.0276, $0.0297, $0.0312, and $0.0337. Failure to break the resistance at $0.0257 could lead to a drop in RSR price towards $0.0233, $0.0229, and $0.0209.

Images courtesy of TradingView.

Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.

Do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.

Source: altcoinbuzz.io
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