ZEC, XMR, DASH Gain Ground As Signal Announces Support

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In Brief
  • XMR is trading in a range between $244 and $288.

  • ZEC has broken out above the $183 resistance area.

  • DASH has reclaimed the $250 resistance area.

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Monero (XMR) has been increasing since March 25. However, it has yet to break out above the February high of $288.

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Zcash (ZEC) has broken out above the $183 resistance area. After reclaiming it, it is aiming for $244.

Dash (DASH) has reclaimed the $250 resistance area and is aiming for $330.

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Monero (XMR)

XMR has been moving upwards since March 25. It managed to reclaim the $244 area on March 31 and validated it as support shortly afterward. 

It began another upward move after, but the February highs have rejected it at $288. 

There is a considerable bearish divergence in the RSI. Thus, a short-term rejection is likely. 

Afterward, XMR would be likely to break out above this area.  If so, the token would find the next resistance area at $358.

Highlights

  • XMR has reclaimed the $245 resistance area.
  • There is resistance at $288.

Zcash (ZEC)

ZEC has been increasing since Feb. 23, when it had reached a low of $103. The increase accelerated on March 25, and the token proceeded to break out from the February highs at $23 on April 4. 

The increase transpired shortly after the mobile payments application Signal announced that it will now accept donations in numerous cryptocurrencies, including ZEC.

Afterward, the price purportedly broke down from this level but reclaimed it shortly afterward. This is a bullish development that often leads to a significant upward movement. 

Technical indicators are bullish. The Stochastic oscillator has made a bullish cross. The RSI is above 50 and increasing. The MACD is positive and increasing. 

Therefore, it is likely that the token increases towards the closest resistance area at $244.

Highlights

  • ZEC has reclaimed the $183 area.
  • Technical indicators are bullish.

Dash (DASH)

DASH has been moving upwards since March 25. It reclaimed the $250 resistance area shortly afterward and then validated it as support. 

As long as it’s trading above this level, it is expected to increase towards the next resistance at $330 gradually.

Highlights

  • DASH has reclaimed the $250 resistance area.
  • The next resistance is found at $330.

Signal

According to Signal’s recent announcement, it has begun testing crypto payments. The company said in a blog post:

“The first payments protocol we’ve added support for is a privacy-focused payments network called MobileCoin, which has its own currency, MOB,”

Due to WhatsApp’s recent privacy changes, Signal has been an alternate application for users to migrate to. In fact, even Elon Musk suggested on Twitter that users should “Use Signal” instead of other messaging platforms.

For BeInCrypto’s latest bitcoin (BTC) analysis, click here.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
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Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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