XMR sank back down after breaking slightly past the downward trend resistance (coming from March 8th's huge gain).
With the respective correction and gradual 2 week climb back up, XMR is still very much poised to break out to new high not seen yet this year.
Originally, I had assumed Monero would pump as soon as it broke out from that pesky negative trend...
Volume steadily increases...
While price steadily decreases...
I'm glad that I was able to bring ZEC back out on the daily ticker, on my last video, to observe the historic downward trend; because, I was able to notice something very bullish about Monero. As XMR's price continued to fall over the last year, it's volume steadily increased. This, to me, has...
Macro cup and handle pattern in play on XMR. A good long-term target would be around the 1.618 fib extension, which is a 5x from the current price of $160.
What's up guys !
I'm looking at Monero again , using my previous approach which yielded profit for me based on my trading style
Price is in an overall uptrend from the bigger timeframe and seems to be making higher highs
Price is currently approaching a resistance zone which could be respected or broken upwards but before then we can still scalp a little profit...
Monero has recently broke above a key resistance level & closed above the level on the Daily Timeframe .
A small pullback & retest of the key resistance around the 275 price mark has happened & is currently in accumulation.
RSI on the Daily Timeframe is 57.28, indicating an uptrend whilst still having lots of room before entering overbought territory.
The price...
SNIPER STRATEGY (new version)
It works ALMOST ON ANY CHART.
It produces Weak, Medium and Strong signals based on consisting elements.
NOT ALL TARGETS CAN BE ACHIEVED, let's make that clear.
TARGETS OR ENTRY PRICES ARE STRONG SUPPORT AND RESISTANCE LEVELS SO THEY CAN ACT LIKE PIVOT POINTS AND REVERSE THE WAVE (or act like a mirror that can reflects light) BASED ON...
Chart Overview
* Binance: XMR/BTC
* Daily Chart
* Reducing / Falling Wedge chart pattern
Analysis
Monero is forming this bullish chart pattern, with many contact points (four significant touches on the resistance or upper line and three on the support or lower line). The multiple contacts adds credence to this chart pattern, most likely result is a bullish...
Chart Overview
*XMR/BTC WEEKLY
*Parallel channel
*Support Points (Green arrows and white horizontal line)
*Resistance Points (Red arrows and white horizontal line)
Analysis
From the point of writing, Monero has increased 24% in the last 7 days (compared to USD). Also Monero is finding a lot of support at the white line (0.6103). Monero fell closed last week below...
Chart: XMR/BTC (Daily)
Monero has been pushing up gradually and consistently, the 0.5 Gann Box price/time line has been hit. If Monero pushes past this convincingly, this line will turn from resistance to support and we can expect more bullish action.
Monero took a big hit from the recent crash and could be a very good time to buy back in.
Next resistance...
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (199.27).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. XMRUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a...
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (199.27).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. XMRUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a...
Return to a strong trendline for XMR
Perfect buying opportunity as this will likely bounce off 1.618 or the trendline drawn
What was previously resistance (1.618) has become a place of support now
This coin held pretty well during the sell of, and looking on the chart we can see that, after reaching the last ATH's support, it reversed putting in a long tail on the daily candle.
More, yesterday the situation is similar, and we gain have a long tail on the daily candle and also a higher low.
These are clear indications for me that bulls are still in control...
Monero is at long term resistance which has been in place for over three years at $299.00. This is the last hurdle before new all time highs. If it can break this area convincingly it will go over $500.
BTC pair looking for a bottom, While the USD pair is looking for an ATH
The BTC pair shows clear signs of degeneracy, which can reverse in a strong fashion once the "bottom" is found
I am neutral on Monero
