Dash and Monero Zooms about +11% and +8% Respectively After Delisting News

  • Dash (DASH) and Monero (XMR) gains on the news of Delisting form exchanges.
  • The pair of DASH/BTC gains about +4.40% standing at 0.00521249 BTC
  • While the pair of XMR/BTC trading at 0.00787400 BTC with an intraday gain of +7.29%

Dash and Monero react after the Email sent by Dutch cryptocurrency exchange LiteBit to its users about delisting the privacy coins according to that Email According to the Email, the decision was made “partly due to the privacy aspect of this crypto. The regulator of crypto companies in the Netherlands has indicated that cryptocurrencies aimed at privacy are too high a risk.” 

Delisting raises issues for privacy coins and signals that it’s okay to delist them, even without compliance issues. As a result, some exchanges delisted Dash and Monero under the government pressure and anti-money laundering. While some exchanges do not in favour of delisting them that create demand in the coming days and it creates a positive impact on the prices, and after this news, both reacts positively. 

Chart of DASH Indicates a Positive Breakout from Falling Channel Pattern

Source:tradingview
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The monthly chart of Dash (DASH) gives a positive breakout from the falling channel pattern after hitting 200-Day Moving Averages line. Currently trading at the price levels of $96.05 with an intraday gain of +8.02%, supported by volume recorded in the last 24-hours of $367,651,494 and the total market capitalization stands at $946,524,144. The performance over the past seven days is placed with loss of -6.11%. Currently, it is trading above 9, 21 and 200 Day Moving Averages indicates the positive nature; however, it still trading under 50-DMA. Resistance on the higher side is placed at $105.00 and $122.28, and support on the lower side is placed at $87.93 and $62.31 is strong support. 

Monero Hits its New 52-Week High after Clearing Resistance

Source:tradingview

Monero (XMR) after this news jumps over +17.28% and breaks the resistance placed at $144.00. Records it new 52-Week high of $149.10, however, profit booking form higher levels pulls it to the level of $144.02 which is the current market price of XMR with the intraday gain of +11.03% supported by the volume traded in the last 24-Hours of $748,648,425, and the total market capitalization stands at $2,561,743,832. Resistance on the higher side is placed at $149.10, and support on the lower side is placed at $129.50 and $100.00 is strong support. 

Support levels: DASH- $87.93 and $62.31

                         XMR- $129.50 and $100.00

Resistance levels: DASH- $105.00 and $122.28

                              XMR- $149.10 

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Pratik Chadhokarhttp://www.thecoinrepublic.com
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.

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