Crypto Screener Forums Monero (XMR) Forecast – Technical Analysis Monero (XMR) Technical Analysis – January 2018 Reply To: Monero (XMR) Technical Analysis – January 2018

#1305
CheesePuff
CheesePuff
Moderator

On the Monero vs Bitcoin front we are taking a look at the day candles to have a look at the longer term view of the market.

Monero 9 Jan 2018
We can see strong resistance around 0,03 BTC as well as a very nice uptrend developing from middle December last year.

Some classic bullish and bearish candle formations on the chart, however we can’t ignore the cup and handle that has formed since October.

We also have the classic ‘three soldiers’ candlestick formation telling us that the bears will get tested at 0,03.

On the flipside you can look towards 0,025 BTC to signal a reverse in the current uptrend.

We think that Monero is a great longer term hold and should prices break above 0,03 (with some good buying volume and maybe some fomo) we would advise you to get some, if you have not boarded the rocket yet.

Feel free to discuss this trade idea with us on Discord. Safe trades.