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

This topic contains 4 replies, has 4 voices, and was last updated by margincall margincall 1 year, 4 months ago.

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  • #1217

    This is the thread for analysis on the Monero markets in the month of January 2018.







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  • #1475

    Monero is currently in a bearish trend against the dollar, however we can see very strong support below $300.

    xmrusd forecast 29 Jan 2018
    Even though the Monero markets have been very volatile over the last month, it is important to notice that the bulls are not shy to buy any xmr under $300.

    It looks like a new base is being set between $280 – $300 and should the bears stay shy of the market we could see momentum picking up in favour of the bulls.

    Short term outlook is bearish, there could be buying opportunities between $280 – $320 in the next couple of days.

    For those wishing on a safer entry into the market, be patient and wait for the market to consolidate above $350, where we will most likely begin the climb to $400 again.


    A timely check in to the XMR versus USD market.

    XMR 22 Jan 2018
    As we can see from the chart, if the downward trend continues, prices will breakthrough the bottom side of the triangle that XMR has been trading in since mid December.

    Fib lines confirm this, and show XMR to have today broken through the 0.38 fib in a downward trend.

    Looking at the PPO, the momentum is against the bulls at this point.

    On the flipside, XMR seems to be resisting the current bear trend quite well.

    We can see that the 0.5 fib has already been tested, and lightning usually strikes twice. However this could also cause a bounce up to the top trend line, where we could see the seller’s stepping in once again.

    Into the days ahead, the short term support for XMR lies at 280 USD.

    If price breaks through this, then medium term support will come into play at 240. After this, if downward movement continues we could test levels as low as 160 USD on the long term.

    We would expect a lot of the bigger players to start showing an interest should prices go that low.




    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.



    Taking a birds eye view of the Monero market to get an idea where we stand as we enter the new year.

    monero forecast 3 jan 2018
    Monero performed great toward the end of last year, more than tripling in value before we saw the market correcting.

    XMR is alongside many other of the Altcoin majors busy experiencing a correction.

    We can see that market is pushing against resistance at $380 and should the bulls fail to push above that we will continue the corrective cycle and possibly test the upper $200 zone again.

    Long term speaking I feel that Monero is a great long term investment and one of the best Crypto’s to hodl.

    Long term view – Bullish

    Medium Term Support – $280 – $300

    Longer Term Support – $200

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