Crypto Screener Forums Monero (XMR) Forecast – Technical Analysis Monero (XMR) Price Analysis – July 2018

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  • #17952
    margincall
    margincall
    Keymaster

    Taking a quick look at the price action on the Monero market versus the US Dollar. Similar chart here to Litecoin on the 1 Day candles.

    xmrusd price forecast 23 July 2018

    We can see a attempt at forming a bottom here, with prices temporarily finding support above the 20MA. I will see if we close above the 20 MA today, I am bullish above $120 and would be bearishly inclined should prices dip below the channel I have drawn out on the chart.

    MACD is showing us that there is a very nice divergence between the momentum and the price, higher risk traders like to bet on these kinds of trade setups for some possible bullish price action. Monero also has a tendency to play catch up with Bitcoin in FIAT value, as it is one of the more actively traded cryptos in the world today.

    In a nutshell, possible breakout scenario above $155, any trades before the breakout should be considered higher risk. Safe trades.

     

    • This reply was modified 6 months, 4 weeks ago by margincall margincall. Reason: grammar, spelling
    • This reply was modified 6 months, 4 weeks ago by CheesePuff CheesePuff. Reason: grammar, spelling
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