Very unfortunate. Impressive how one single weekly-candle can change everything (it's always been this way).
XMR has two support levels waiting to "catch" it's fall. Breakout above support #1 is considered bullish. Top PSAR series are now far away from current performance, and considering the peak distance between the 50 and 200 moving averages (marked pink),...
Expecting XMRUSD to continue to a level around $60, not much lower, before returning to current range.
Recent highest high is not expected to be broken until BTC USD returns to its bull run, i'm predicting this will not happen until mid 2020, before that i expect XMRUSD will continue to trade in the current range, this may change depending on price action over...
XMR / MONERO
- Has had a nice run up overall
- Super extended past long term resistance
- Rejection here I think would create a massive expanding wedge
Drop a comment below :)
$XMR one of much coins that did not pumped during this mini-altseason.
Forming Falling Wedge.
First Key support hit and price bounced after fakeout.
retesting FW pattern now.
If fail to pass swing high and hold - next support will be $57.262.
This should simplify the analysis for everyone. It's my first look at XMR/USD today (ever), and all I can say is that I give it a super-bullish sentiment (check out my other posts, I don't do this often).
All technicals check out: BB, MA, RSI, MACD, PSAR, Candles and even Parabolas . Parabolas are great for revealing trend changes inside a trend flow ....
monero is a great crypto currency and has great potential for trade right now. because we have a clear downward trend line and also a horizontal support that has a lot of significance. it acted as resistance back in april and it is also the 61.8% fib level from 38.620 bottom to 121.524 top i suggest to buy with one quarter of your capital and put a stop sell order...
I absolutely love this asset because i find it most enjoyable to chart. Here are some arguments for what you're seeing :
1- From the lowest low (dec18) to high (jun19) we just hit 50% retrace and made a bullish harmonic pattern, think about it.
2- Clear sellers exhaustion
3- Rounding action on higher time frames
Monero looks to be breaking out of a descending channel. This is a massive RR trade, so position size accordingly. Take partial profits at horizontal lines drawn and keep pushing up the SL after partial profits.
