Monero (XMR), SPX6900 (SPX) and Jito (JTO) are recording a slight increase, despite the overall picture of the crypto market still facing many challenges in maintaining and expanding the bounce back.
Monero rises due to stable buying demand
Monero (XMR) is currently trading around 398 USD, maintaining above the important Exponential Moving Average (EMA) lines: the 50-day EMA at 354 USD, the 100-day EMA at 332 USD, and the 200-day EMA at 308 USD, strongly reinforcing the bullish trend on the technical chart.
The daily MACD indicator is still below 0 but is on the rise, indicating that selling pressure is gradually diminishing. Meanwhile, the (RSI) stands at 58, above the central mark, reflecting stable buying demand.
Daily XMR/USDT Chart | Source: TradingViewHowever, the downtrend line from 420 USD is creating resistance for XMR's upward momentum, with major resistance at this level. The corrective waves may find support around the 354–332 USD range, while a deeper bottom is near 308 USD. The momentum, although still below 0, is improving, signaling that selling pressure continues to decrease.
If XMR can close above the downtrend line, the next target could be the previous highs. On the contrary, failure to break through will keep the price oscillating within the range of the mentioned EMA line, creating a temporary equilibrium state for the crypto market.
SPX6900 bounce back, sending positive signals
SPX6900 (SPX) continues to make its mark with a four-day consecutive increase, confirming the resurgence of the bulls. The buy signal from MACD, maintained since Sunday, further reinforces the short-term bullish outlook for this coin.
The RSI index remains strong above the 50 mark, indicating that the bulls are still in control, while the RSI approaching the overbought zone reflects a gradually strengthening upward momentum.
Daily chart of SPX6900/USDT | Source: TradingViewHowever, the 50-day EMA at 0.79 USD may create a resistance level, limiting the bounce back and triggering early profit-taking. If SPX6900 breaks through this EMA line, it is likely that the upward trend will continue, targeting the 100-day EMA at 0.96 USD and the 200-day EMA at 1.05 USD.
JTO bounces back to reclaim important support as the uptrend resumes
JTO is currently trading around the 50-period EMA at 0.52 USD on the 4-hour chart, as strong buying pressure drives the price towards trend control this week. Previously, the coin had bottomed out at 0.44 USD on Friday, laying the foundation for a stable bounce back.
JTO/USDT chart on the 4-hour frame | Source: TradingViewThe MACD indicator still supports the short-term bullish outlook, with a buy signal maintained since Sunday. If the MACD continues to move deeper into the bullish zone, resistance levels will trend upwards, opening up higher targets for the bulls at the 100-period EMA at 10.59 USD( and the 200 EMA at 0.74 USD.
However, traders should be cautious with bullish expectations, especially when the RSI is at 63, indicating that buying pressure is not really strong and the bulls are showing signs of fatigue. A reversal of the RSI back to a neutral level of 50 will signal a weakening uptrend, while also increasing the risk of a correction to the local bottom around 0.45 USD.
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TOP 3 altcoins with notable trends today - November 27
Monero (XMR), SPX6900 (SPX) and Jito (JTO) are recording a slight increase, despite the overall picture of the crypto market still facing many challenges in maintaining and expanding the bounce back.
Monero rises due to stable buying demand
Monero (XMR) is currently trading around 398 USD, maintaining above the important Exponential Moving Average (EMA) lines: the 50-day EMA at 354 USD, the 100-day EMA at 332 USD, and the 200-day EMA at 308 USD, strongly reinforcing the bullish trend on the technical chart.
The daily MACD indicator is still below 0 but is on the rise, indicating that selling pressure is gradually diminishing. Meanwhile, the (RSI) stands at 58, above the central mark, reflecting stable buying demand.
If XMR can close above the downtrend line, the next target could be the previous highs. On the contrary, failure to break through will keep the price oscillating within the range of the mentioned EMA line, creating a temporary equilibrium state for the crypto market.
SPX6900 bounce back, sending positive signals
SPX6900 (SPX) continues to make its mark with a four-day consecutive increase, confirming the resurgence of the bulls. The buy signal from MACD, maintained since Sunday, further reinforces the short-term bullish outlook for this coin.
The RSI index remains strong above the 50 mark, indicating that the bulls are still in control, while the RSI approaching the overbought zone reflects a gradually strengthening upward momentum.
JTO bounces back to reclaim important support as the uptrend resumes
JTO is currently trading around the 50-period EMA at 0.52 USD on the 4-hour chart, as strong buying pressure drives the price towards trend control this week. Previously, the coin had bottomed out at 0.44 USD on Friday, laying the foundation for a stable bounce back.
However, traders should be cautious with bullish expectations, especially when the RSI is at 63, indicating that buying pressure is not really strong and the bulls are showing signs of fatigue. A reversal of the RSI back to a neutral level of 50 will signal a weakening uptrend, while also increasing the risk of a correction to the local bottom around 0.45 USD.
SN_Nour