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.
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...
XMRBTC has now hit our second target and is on the way to our third target.
It broke out large resistance and has more room to grow further than our second target
XMRBTC is super bullish above the resistance level. XMRBTC is also above the 200 EMA line which now acts as dynamic support.
Traders can even open a new trade on XMRBTC at current market price
Monero is close to break out an important resistance level after break out its long term downtrend. It would be a good entry point for a swingtrade from the blue to the red level.
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XMR looks ready to break 1-year accumulation zone. All eye on it for now. With the market turning bullish, it's worth starting to build a bag now.
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XMRBTC looks like it has broken resistance of a symmetrical triangle to the upside.
If this is the case, we can expect an upward movement towards the "black" resistance line of a larger triangle.
Short term target can be set as shown on the diagram.
Stop Loss can be set below the dashed line of the symmetrical triangle.
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!