". There is a possibility of temporary retracement to suggested support line (404000).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
. XMRBTC 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.
Hi dear friends, hope you are well, and welcome to the new update on Monero coin.
On the long-term 2-month chart, the price action of the XMR has completed the final leg of bullish BAT and entered the potential reversal zone. At this time the priceline is spiking beyond the PRZ level. Therefore I would suggest to wait for the priceline to move back in the...
💎Technical Analysis Summary💎
-Monero is retesting its neckline of support around 118 dollars
-This is crucial because if the level break down
-The potential next support is somewhere at 95 dollars
-Looking at the daily candle is not good also
-It is painting a Bearish engulfing pattern
-Be careful and always plan your next trade
XMR is currently having a strong resistance zone at 0.011 BTC and I don't think it will stop here, but will continue to cross this zone to rise to 0.014 BTC and 0.018 BTC.
However, we shall wait for it to break out of the 0.011 BTC zone before buying.
The closest support zone we can buy is 0.0085-0.009 BTC
💎Technical Analysis Summary💎
-Monero breakout and confirmed new Higher High
-After a long period of consolidation
-This is a strong signal of a potential trend change
-It would be healthy if we can see a Resistance flip to support
-A good pullback and another leg up is a Bullish new trend
-The next upside target is...
-Monero still on an uptrend as the price recovers back above 8200 sat
-It is now testing major resistance area since July 2019
-Last August 21, it had a failed breakout and many Bulls got stopped out
-We need to be more cautious this time as the market is still not stable
-XMR needs to hold above 8300 for a couple of days to avoid fakeouts
Sell on 1 hour chart
Sell on 7h chart
Sell on 2 day chart
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XMR is accumulating above an important resistance level, and if we break this resistance on the uptrend direction, we are going to have a possible Bullish momentum.
For now, we must watch the price testing this resistance zone and see if the bulls can take control of that area.
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pressure on the upper boundary;
Punching up and securing the purchase.
stop loss for local minimum;
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XMR broke both 100MA & 200MA on the daily chart including the trendline resistance a few days ago.
The priority now is going up to challenge the swing high at 9500 sats area.
Stop-loss is placed under the 200MA.
XMR has broken below the major moving averages and faces a small triangle. Typical triangles, such as the ones in this chart, can easily swing either way. Therefore, its best to wait for further confirmation. In this case, there is new resistance band at 200MA in the red box near 7100 sats. Its possible to see a quick wick up the resistance,...
On short term 3 hour chart the Monero (XMR) with Bitcoin pair has formed a bullish BAT pattern and just hit the spike in potential reversal zone but there are chances that the XMR will give another change to catch it from the potential reversal zone of this pattern so we can wait and buy.
The Formation Of Harmonic Pattern:
Let’s take a look in to pattern’s...
XMR has bounced strongly off the double bottom inside support making this a clear breakout. XMR is showing a small bearish divergence after the recent 2 tops, therefore I expect a small correction down to the 200 MA and possibly dip below into the 7000-7200 sat area. Keep in Mind 200 MA is at 7250 sats about. These are points are key entries to...
Priceline of Monero / Bitcoin cryptocurrency is moving within a falling wedge and hitting the support of wedge and also hitting the bollinger bands support.
Last time when the price action hit the bollinger bands support and wedge's support it produced more than 18% profit.
But as the MACD is strong bearish and stochastic is in bear cross so we should wait for...