Privacy coin season? DASH price gains 100% in a week as Monero, Zcash flip bullish

The strength of the cryptocurrency market is spreading appears to be spreading to privacy-focused coins. The calm price action of Bitcoin (比特币) often sets up an intense period for altcoins to rally, where several groups of coins can start becoming bullish.

One of those segments is the privacy coin segment. 例如, 货币 (XMR) rallied by more than 50% 上个星期. 与此同时, 短跑 (DASH) has more than doubled with a 125% gain while Zcash (ZEC) rallied by 70% during the same period.

Monero breaks out of USD downtrend

XMR/USD 1-week chart. 资源: 交易视图

集会之前, XMR was lagging behind Ether (ETH) as the construction is quite similar between the two. After a two-year-long accumulation period, ETH price finally broke to the upside at the beginning of 2021.

Such breakouts often see a support/resistance (S/R) flip, after which the price of the underlying asset can continue rallying. This S/R flip zone for Monero price is marked with the green box where support was found. This support zone held and XMR price continued accelerating toward the next resistance zone around $300.

XMR/BTC 1-week chart. 资源: 交易视图

The weekly chart for Monero’s BTC pair shows an entirely different view, 然而, as it’s still in a downtrend. 因此, a rally in the XMR/BTC pair may be on the horizon. 特别, a breakout above 0.006 sats would likely lead to more upside.

DASH leads the way

DASH/USD 1-week chart. 资源: 交易视图

Frequently, when one coin from a segment starts to run, other coins follow suit. Such a correlation can be found between Dogecoin (狗狗), XLM, 和XRP, as these often mirror each other’s moves and privacy coins aren’t any different, namely XMR, DASH, and ZEC.

短跑, for instance, has been breaking out of a two-year accumulation period as well. As long as Dash sustains support above the $150-170 地区, further continuation toward $550-600 is on the table.

DASH/BTC 1-week chart. 资源: 交易视图

The DASH/BTC pair is also looking weak, 然而, similar to XMR. A breakout above the critical resistance zone of 0.007 sats would help generate upward momentum. If that level breaks and flips for support, continuation towards the 0.016-0.018 sats region becomes likely.

Such a rally would also be in line with more upside in the USD pair as the next level of resistance is found between $550-600.

Zcash is also showing strength

ZEC/USD 1-week chart. 资源: 交易视图

Zcash is the third major privacy coin, which also shows a similar chart structure. ZEC price broke out of a long, multi-year accumulation period and flipped the $80 area for support.

With this S/R flip, the price then rallied to $160-170, the next area of resistance. As long as Zcash holds above the $100-120 区, the resistance zone at $350-380 then becomes the next logical target.

ZEC/BTC 1-week chart. 资源: 交易视图

But just like the other privacy coins, the BTC pair is still struggling to break out. The critical level for Zcash is 0.0036-0.0041 sats. If that level is broken, 的 0.008 sats area should be the next level of defense for the bears.

因此, privacy coins are starting to wake up, showing decent strength, but more upside is possible, particularly in their BTC pairs, which may break out of their long downtrends. The critical levels of resistance must flip to support, 然而. If this occurs, privacy coins will be in a good position for their ownalt season,” which has been especially auspicious for the DeFi sector in the past months.

这里表达的观点和意见仅是 作者 并不一定反映Cointelegraph的观点. 每笔投资和交易动作都涉及风险. 您在做出决定时应该进行自己的研究.

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资源: 声电图