Monero, Synthetix, DigiByte Price Analysis: 29 January

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With Bitcoin ^[1] continuing to consolidate between the $33,000 and $35,000 price levels at press time, there was a slight lack of bullish momentum in the crypto-market, when compared to previous weeks. However, the trend has not always been uniform across the altcoin ^[2] market. In fact, over the past 24-hours, popular altcoins like Monero, SNX registered slight price hikes, with DigiByte surging too.

Monero [XMR]

Source: XMR/USD ^[3], TradingView

For the crypto-market’s prominent privacy coin Monero ^[4], the price rose marginally over the past week. At press time, XMR was trading at $133 with a market cap of $2.4 billion. If the uptrend continues for XMR, then the price will soon have to breach the resistance at $167 in the coming week. However, the coin also had two strong levels of support at $125 and $105, levels that could lend a hand if a price correction happens.

The technical indicators for Monero didn’t look very promising and highlighted bearish pressure on the charts. The MACD indicator underwent a bearish crossover while the RSI was close to the oversold zone – both pointing to an incoming price drop.

Synthetix [SNX]

Source: SNX/USD ^[5], TradingView

Over the past few days, the price of Synthetix ^[6] has been consolidating on the charts. At press time, SNX was being traded at $16.2, with the crypto close

Monero, Synthetix, DigiByte Price Analysis: 29 January

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