Transaction volumes for Monero and Zcash have risen, possibly heralding strengthened positions in the privacy-focused cryptocurrency sector.
Monero (XMR) Shows Potential Amid Bullish Indicators
Monero’s price currently ranges between $143.77 and $166.22. The 10-day Simple Moving Average is $157.13, which is above the 100-day average of $148.95, hinting at upward momentum. The Relative Strength Index is at 49.45, indicating a neutral market. Over the past six months, Monero’s price has increased by 13.21%. The nearest resistance level is at $175, and if surpassed, the next target could be $198. The nearest support is at $130.94.
Zcash Gains Momentum as Bulls Drive Price
Zcash has seen a price increase of over 30% in the past month and nearly 90% over the last six months. It is currently trading between $37.93 and $49.53, approaching the nearest resistance at $54. Technical indicators such as an RSI of 61.87 and a positive MACD of 1.10 suggest bullish momentum may continue.
Conclusion
December could be a crucial month for Monero and Zcash as they strive to lead in privacy-focused cryptocurrencies. Current market conditions and technical indicators suggest potential for further growth.
Both cryptocurrencies have opportunities for growth in December, potentially solidifying their positions as privacy leaders.
