Cardano [ADA], TRON [TRX], Monero [XMR] notch new lows in bear market: Techincal Analyses and Latest Updates 20662
Analysis
Jessica Kuruthukulangara
Aug 9, 2018 at 3:47 AM

The bear market is back, and the recent slump in Bitcoin's [BTC] price is leaving no survivors. Cardano [ADA] and Monero [XMR] have both touched their lowest levels this year, and are falling further. TRON [TRX] has plummeted to an almost 5 month-low.

ADA/USD

Cardano [ADA] has succumbed to the broader bear market and has fallen to its lowest this year. The coin found support at $0.114 and attempted to rise above the bearish trend. However, intense selling pressure has forced the digital asset to dip even lower. ADA is trying to break out from the current resistance level, traced at $0.115.

100 EMA line indicates that the crypto is in a downtrend and at the time of writing, the MACD showed that ADA was trading in bearish territory. The virtual currency is exhibiting a significant trading range of $0.107-$0.124. As of 2110 GMT, the coin had declined 10.2 percent against the U.S. dollar to trade at $0.115.

Cardano [ADA], TRON [TRX], Monero [XMR] notch new lows in bear market: Techincal Analyses and Latest Updates-BCFocus

Cardano Latest Updates

The Cardano Foundation is on its way to becoming more transparent. The foundation announced on Tuesday that FP Complete, which provides blockchain auditing services, will now audit Cardano’s software libraries as well. Going forward, the foundation and FP Complete will release regular audit reports, which will specifically review various Haskell Libraries.

TRX/USD

TRON [TRX], tracking its crypto peers, is also losing the battle against bears. The coin has touched its lowest level since March. After failing to break out from the first resistance level, noted at $0.025, the virtual currency has slipped even more. At the time of writing, TRX was attempting to break out from the current resistance level, which can be traced at $0.024.

See also: Ripple’s XRP, Bitcoin Cash [BCH], EOS [EOS] plunge to multi-month lows: Technical Analyses and Latest Updates

The MACD shows that the digital asset is firmly placed in the bearish zone, and it doesn’t seem like TRX will be able to break away any time soon. The coin is in a downtrend, as evidenced by the 100 EMA line. TRX is exhibiting a significant trading range of $0.023-$0.028. As of 2124 GMT, the crypto had slumped nearly 15 percent against the U.S. dollar to trade at $0.024.

Cardano [ADA], TRON [TRX], Monero [XMR] notch new lows in bear market: Techincal Analyses and Latest Updates-BCFocus

TRON Latest Updates

uTorrent, a client of BitTorrent, announced that it will start catering to the infrastructure requirements of the TRON ecosystem, meeting the demands of TRON ecosystem. The platform is also campaigning for the TRON Super Representative election. BitTorrent is also running for TRON Super Representative.

XMR/USD

Monero [XMR] has plunged below the $100 mark for the first time this year. The coin found support at $100.45, but failed to edge higher. The virtual currency is now attempting to stay afloat and break out from the current resistance level traced at $96.58. But it looks like the coin could dip further.

See also: NEO [NEO] hits new low while Ethereum [ETH], Ethereum Classic [ETC] battle tough bearish gales: Technical analyses and latest updates

The 100 EMA line indicates that the coin is exhibiting a strong downtrend. At the time of writing, the MACD indicated that the digital asset was trading in the bearish zone. At present, XMR is in a significant trading range of $93.1-$107.6. The coin had slumped close to 15 percent against the U.S. dollar to trade at $94.49, as of 2138 GMT.

Cardano [ADA], TRON [TRX], Monero [XMR] notch new lows in bear market: Techincal Analyses and Latest Updates-BCFocus

Monero Latest Updates

Security flaws are to blamed for a recent Monero (XMR) hack, leading to the question whether it is a good time to buy XMR or not. Though the vulnerabilities are said to be minor, but apparently hackers can penetrate in the system and forge their own Monero. They can then trick the support staff to crediting their account manually with extra tokens, The Next Web reported.

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