Crypto Screener Forums Monero (XMR) Forecast – Technical Analysis Monero (XMR) Technical Analysis – November 2017 Reply To: Monero (XMR) Technical Analysis – November 2017

#896
margincall
margincall
Keymaster

Taking a look at the Monero market today after the epic BCH run.

Considering that Monero is very nice diversification from all the Bitcoin clones, with very nice privacy built into the blockchain, this might be a great time to buy.

Having a look at the day chart we can see that we are experiencing a bit of a correction after the rise from 0.011. I do think that this is just a correction and with Altcoins being so bullish support might be as high as 0.019. There are concerns that BTC might start pushing above $6500 and push higher, in which case the Alt markets will most likely bleed again.

I am bullish on XMR and buying in the green box. Safe trades.

Keep an eye on the 1 hour chart to find a sweet spot to enter the trade.