Privacy Coins: Monero (XMR) and Zcash (ZEC) Corrective Patterns Point to Bullish Breakouts

The Monero (XMR) price is expected to break out from its current pattern as long as it stays above the $135.3 support area. The post Privacy Coins: Monero (XMR) and Zcash (ZEC) Corrective Patterns Point to Bullish Breakouts appeared first on BeInCrypto.

Timeline of Monero, Zcash

The Monero coin rising for three consecutive days, registered a 5% price rally. This bullish rally, backed by increasing volume activity, indicates the buyers are confident about gaining higher levels.

XRM price breaks down into a ranging channel as price failed to break above resistance, holding price from trending higher.  XRM trades below 50 and 200-day Exponential Moving Average as the price struggles to regain bullish signs as the price continues ranging in a descending triangle.

The Zcash protocol might be under a spam attack as analysts pointed out on Twitter in a long discussion that started on Wednesday. Being a privacy-focused protocol, Zcash's “Shielded Transaction” feature designed for privacy is now being misused by the attacker

An unidentified spammer has wreaked havoc with Zcash node operators by filling transaction blocks with myriad shielded transaction outputs. The post Are Monero Developers Behind the Latest Zcash Attack?

Zcash (ZEC) was treading a bearish route along with other altcoins, having shaved off as much as 14% in the past few days. Zcash loses 14% last week but opens up an increased buying opportunity Awesome Oscillators looks bullish ZEC's RSI at 42 On-chain metrics have shown a glimpse of a buying opportunity with a hint of a downtrend.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. The Tether Dominance metric has been on an uptrend over the past few days.

Monero recently announced an upgrade that can easily be dismissed as another run-of-the-mill security update. A deeper dive, especially in regards to the reason behind the upgrade reveals that it is an important upgrade for security future-proofing.

Global crypto exchange Huobi Global (HT/USD) has announced its delisting of several privacy coins, some of them very popular and widely adopted across the ecosystem, according to the latest in crypto news from the company .

Huobi, one of the world's leading crypto exchanges, has announced that it will delist seven seven privacy tokens in order to achieve compliance with tightening financial regulations.

Huobi Global has unveiled its plans to delist privacy tokens, counting Monero (XMR), Dash (DSH), Decred (DCR), Firo (FIRO), Verge (XVG), Zcash (ZEC) and Horizen (ZEN) as the digital assets that will be affected.