. There is a possibility of temporary retracement to suggested support line (86.00). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. XMRUSD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
This trade idea is for demonstration and educational purposes only. Trade at your own risk.
We see a possible teacup formation. Key things to note:
1. Price is being contained within an ascending channel.
2. Price is very well respecting the 50% fib level and using this level as dynamic support.
3. Possible makings of teacup in terms of handle formation....
The long-term view of XMR shows a different picture. One might think that XMR is overbought compared to BTC. But we should keep in mind that XMR hasn't had a real ATH yet. XMR has developed rather slowly and organically. Accordingly, the development could continue and XMR could rise against BTC.
Let's see what happens. Happy trading. :-)
Priceline of Monero / US Dollar has formed bullish shark and entered in potential reversal zone.
RSI is oversold.
Stochastic has given bull cross.
I have used Fibonacci sequence to set the targets as below:
Buy between: 79.020 to 74.088
Sell between: 83.276 to 92.993
Atif Akbar (moon333)
Is this a flag or descending triangle?
To me it looks more like correction time. Monero had several moves up, now the high probability scenario is favouring a correction.
Please refer to the chart for potential targets.
See my related idea below.
I think Monero has the best fundamentals over any other crypto.
Monero is one of the best crypto project. Low fee, untraceable, fungible, deflationary etc.. Monero is the real synonym of decentralization. Monero is what bitcoin was supposed to be in first hand, and it works.
Do not miss your chance to grab some xmr at such price. (...
This is to hold long term, not for swing trading.
Daily is showing some clear support on the daily 50 Smma, after having spent the bear market below it (except for false breakouts that lasted only some days/week).
The pattern is clearly showing more buyers than sellers, raising over this blue Smma and using it as a support.
The Smma 200 in pink is more resistive,...
We are lagging behind BTC. Could this be because we need a handle to complete a cup and handle pattern?
The handle could go as low as 100 USD and it would still be healthy.
One thing for sure is that we need MORE volume to break out of this pattern.
98.50 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 74.
New trading suggestion:
*There is still a possibility of temporary retracement to...
Today I wanted to go over one of the large caps because they are the ones that lead the market.
XMR is a great long term cycle because it has proven itself with Bitcoins bear cycles previously.
I like this set up for a couple reasons...
First off, we have a very strong trend that went uber parabolic in the last cycle. This created a 1,3,5 Elliott...
Today I am watching XMR for a potential breakout of a bull pennant. This pattern comes after a breakout of major descending resistance which signals the end of the bear market.
Currently prices are tagging resistance of the pennant which is why I am waiting for confirmation one way or the other.
For a bull break to occur the best entry will be the...
Welcome to Technical Analysis on MONERO (XMR) which is one of the next big things (not judging by the rumors), but technical and fundamentals.
After Zcash it's a second best privacy coin made.
We have seen Monero is sidewalking since December, pretty much at the same range (0.0120-0.0135 sats), but since volatile as usual, #XMR will gain masin...