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

#1693
margincall
margincall
Keymaster

Monero has been performing very well against Bitcoin, lets take a look at the chart.

XMRBTC forecast 6 March 2018
On the 1day candles we can see a very impressive Cup and Handle forming, although not a 100% guarantee of a breakout it is a bullish signal.

By looking at the momentum we can see that there is indeed some good buying pressure pressure, although the volume is still quite low at this point.

Resistance is currently around 0.033 btc and I expect some fireworks should the prices consolidate above that.

Support on the shorter term is around 0.0315 and I would expect the bullish momentum to continue should prices stay above this level.