Crypto Screener Forums Monero (XMR) Forecast – Technical Analysis Monero (XMR) Technical Analysis – December 2017

This topic contains 2 replies, has 1 voice, and was last updated by margincall margincall 1 year, 2 months ago.

  • Creator
    Topic
  • #1045
    margincall
    margincall
    Keymaster

    This is the thread for technical analysis on the Monero markets for the month of December 2017.

Viewing 2 replies - 1 through 2 (of 2 total)
  • Author
    Replies
  • #1119
    margincall
    margincall
    Keymaster

    Monero has given us some great gains and December was no exception.

     
    xmr forecast 21 December 2017
     

    The market is bullish, but we can see some heavy selling off in the $400 zone and we are testing $390 while I write this report.

    On the short term I see support at $370, but if this level should fail we will most likely test $325 again.

    It is normal for markets to correct after massive gains, I expect the dips to get bought up if BTC continues to lose market dominance.

    I will take some profits from the trade at $200 should $370 fail.

    #1046
    margincall
    margincall
    Keymaster

    The Monero market has performed very well over the last month shooting up from $80 to over $200.

    xmrusd forecast 6 dec 2017

    The market has hit some resistance at 270 where we are watching the sellers step in.

    This could be buy the dip time, keep an eye on the trend line and the green box indicating the short term support. If prices fall through the trend line and the box we will be in for a much bigger correction, however in my opinion we are looking at a 50% retrace here.

    Look for the breakout trade above 270. Safe trades.

    Feel free to ask me about any of my trade ideas in our Slack.

Viewing 2 replies - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.