Decred and Monero drop in another wave of corrections

Decred and Monero drop in another wave of corrections

  • The crypto market's volatility persists, as many of the coins saw a wave of correction recently.
  • Monero and Decred saw corrections that are already turning around, Augur saw a more problematic development.
  • According to the MACD indicator, a bullish trend reversal might yet arrive.

The crypto market is once again trading in the red, after recent price growth. For the most part, these are just corrections, although not like those seen on March 13th. This time, the drop is much more controlled, and even expected, at least for most altcoins.

Good examples include Decred and Monero, which see a drop after a recent rally that lasted for about 48 hours. However, there are also altcoins such as Augur, which started falling even after sideways movement.

Monero, currently the 12th-largest coin according to market cap, saw only a minor dip since the correction took place. The coin sank from $54.67 to $53.15, and at the time of writing, it is back to trading in the green. It currently sees a 1.44% increase, with a current price nearly recovered to pre-correction heights. Right now, it sits at $54.58, with a market cap of $955 million, and a trading volume of $149.2 million.

While the Parabolic SAR pointed to XMR entering a bearish period, the coin is still holding its own, and trading against the bearish trend.

How did Decred perform?

On the other hand, there is Decred (DCR), which is currently the 40th-largest coin, with a market cap of $128.46 million. The coin recorded a significantly larger drop of 3.44%, although it too started seeing another correction in the last few hours, which makes its price only 0.47% lower than it was 24 hours ago.

Right now, the coin’s price sits at $11.90, while its volume in the last 24 hours is at $74.3 million. It appears that the coin briefly experienced a larger capital outflow than inflow, although this is already beginning to change. Current estimates say that it will not suffer any major price swings in the near future, although going in and out of red may happen.

Augur sees clear losses

Lastly, there is Augur (REP), which currently holds the 48th place, with a price of $9.87 and a 2.79% drop in the last 24 hours. The coin’s volume is also rather low, at $26.27 million at the time of writing.

As mentioned earlier, Augur did not participate in a rally over the past 48 hours. Instead, the coin’s price moved sideways, and when the bearish trend arrived, it only saw losses. This makes it stand out, as it did not only experience a minor correction like the others.

By Ali Raza
A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications. Raza is the co-founder of 5Gist.com, too, a site dedicated to educating people on 5G technology.

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