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

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

  • Creator
    Topic
  • #1646
    CheesePuff
    CheesePuff
    Moderator

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

Viewing 2 replies - 1 through 2 (of 2 total)
  • Author
    Replies
  • #1710
    margincall
    margincall
    Keymaster

    Quick update on the Monero market.

    XMRBTC forecast 11 March 2018
    Monero has recorded losses against the Dollar like most other crypto’s, I am taking a look at how the market is performing against Bitcoin.

    Currently speculating on the market for the upcoming fork, and even though we have lost value in USD, there are already some nice gains against BTC.

    Resistance is looking solid above 0.03 -0.033 and it seems that the bulls have set up camp around 0.026 -0.028.

    Monero is busy with a nice steady uptrend and there could be a nice breakout should the buying pressure push prices into the 0.03 zone.

    Should support fail at 0.025, we could see a nasty drop to 0.023 – 0.02.

    #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.

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

You must be logged in to reply to this topic.