Monero insists on keeping above this strong support. Adding to the fact that it broke a long-term downtrend straight and made an accumulation structure. Monero seems to be in a great buy zone.
Let's look at the monthly transition on the privacy coin king, Monero.
Pay attention to the major swing on this very special coin. The transition and breakout for monero has been in motion. Stay tuned, hodl for a very long time!
Even though XMR has shown short-term weakness against some coins in the privacy vertical they still have a way to go before they can challenge XMR's long-established upward channel against them.
I expect oscillation along the channel and would be surprised if they venture into the blue bands. Provided no fundamental change takes place any venture into the blue...
XMR-BTC is looking quite bullish!
On the weekly, we broke a downtrend that formed in April 2019.
We are also at a recent resistance turned support around .007650.
Along with the other majors, XMR has not had a chance to make the explosive movements as other alts did during this alt cycle.
XMR has a 90% potential with targets at .009475 and .014800.
Let’s go Monero!
Let's see if this plays out. Run likely not over. Consolidation from 10500 - 11500 then we head north in the triangle until we fall out and once again test 10500. Unfortunately I see us spending time back down to 8k and 9k for another accumulation phase, while BTC alt pairs make their runs, but they don't necessarily reflect USD appreciation until next BTC bull...
If today's candle closes above the down-trend line, that will confirm the new up-trend!
We have two important buy signals from Engineering Robo, Robo Cloud is still green and MA20 has just crossed up MA50.
Under this circumstances, my targets are;
Stop-Loss : $77.5
Stage 1 breakout being tested right now with everything shooting green on monero.
Roughly 410 days since back to the stage 3 high of major structural Resistance.
Once we break here we will look to then hold to break the highs of stage 2 and stage 3 for a serious bullrun.
Keep an eye on the order book and watch the tape to see how much is being bought up on a...
Due to the break of the uptrend line as well as the hidden divergence in the macd indicator
And also according to the secret message that was in last night's hacks. I xmr will grow a lot.
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