XMRUSD Broke long-term resistance line Very similar to a diamond reversal pattern or it can be just a symmetrical triangle
XMRUSD price is moving in a symmetric triangle, waiting for a breakout. I m looking at this market for a possible entry long or short. Since the daily chart is bearish and the higher level timeframes are bearish as well, I believe that it is more probable to get a break on the downside as a continuation of the trend but the price will tell us anyways.
Monero remains neutral on the short term, balanced between the 1D Triangle (neutral RSI = 49.559, CCI = -49.0229, Highs/Lows = 0.0000) and the 1W Falling Wedge (MACD = -24.189, B/BP = -13.0206). Technically until either the 143.282 Resistance or the 96.192 Support break, the trend will remain neutral. However we are still more likely to see Lower Lows based on the...
XMRUSD is still on a tight balance of power between the commanding long term bearish trend of the 1W Falling Wedge (RSI = 43.439, MACD = -23.484, B/BP = -8.5290) and the 1D Triangle (RSI = 50.323, CCI = -7.6158, Highs/Lows = 0.0000) that keeps the short term trend neutral. We do notice however the rejection on the 1W Falling Wedge's Lower High (128.000) and if...
See a good zone for calling in shorts Expect a pullback movement Monero is in an ascending wedge , most often such figures are triggered downwards
Monero is keeping the 4H Channel Down intact (RSI = 43.399, MACD = -0.281, Highs/Lows = -1.4470) after yet another Lower High rejection at 122.70. However the rebound off the 96.555 Lower Low is maintaining a Triangle (blue dotted lines) on 1D (neutral RSI, Williams, CCI, Highs/Lows). If the 100 mark breaks in the next 3 sessions, then the Channel Down will...
Like almost all ALTS got a bounce from yesterday then so as Monero'. It bounced upwards from previous support level at $97. It made a massive bullish "Engulfing" candle which guides us above the round number $100 and the profit from the bottom was +11%! But looks like we have a heavy resistance above us. This red area has been historically a support and has been...
Following the strong Lower High rejection on the 1W Falling Wedge (MACD = -25.261, Highs/Lows = -2.9135, B/BP = -32.2662), XMRUSD is now consolidating around the 103.754 support (orange dots) in an effort to harmonize the oversold STOCH, STOCHRSI, Williams figures on 1D. 4H is developing a Channel Down (MACD = -3.617, Highs/Lows = -2.0217), symmetrical to the July...
For those that have been following Monero, you’ve probably noticed the extraordinarily bullish sentiment that has taken hold of the protocl in recent weeks. There are a few reasons for that: 1. On a technical trading level, Monero was looking delectable. Period. 2. There was a report that came out that valued Monero somewhere in the upper reaches around $40k at...
Pattern is bullish with this trade What we need is to stay above that trend line which will confirm bullish movement, otherwise we will see demand zones If you enter today have tight SL. Define how much you can afford to risk and go between 5% - 10% in SL from entry Enjoy this trade advice my Crypto Maniacs, but remember to invest only what you can afford to...
Midterm forecast: There is no trend in the market and the price is in a range bound, but we forecast resumption of uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. The price is above the 21-Day WEMA which acts as a dynamic support. Relative strength index (RSI) is 50. New trading suggestion: ...
Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. The price is above the 21-Day WEMA which acts as a dynamic support. Relative strength index (RSI) is 50. New trading suggestion: The price is in a range bound and we forecast the uptrend would resume. There is still a possibility of temporary retracement to...
Monero eventually made a Lower High (Highs/Lows = 0.0000) on the 1W Falling Wedge (red dotted lines/ RSI = 42.243, MACD = -24.873, B/BP = -27703), which is the long term pattern that dictates the trend, hitting in the meantime our 115.494 and 120.927 targets. As seen on 1D the rejection has been emphatic with 5H oversold (STOCHRSI = 0.000, Williams = -88.858). We...
Monero is ripe for a 4th wave correction to $110 levels. I am buying during this wave because the 0.618 fib level is a maximum drop.
Nice harmonic pattern developed in Monero, as we have run into resistance. Im looking for monero to retest the down trend line it has broken out of. Dan