XMR/USD Medium-term Trend: Bullish
- Resistance levels: $64, $68, $72
- Support levels: $44, $40, $36
Basically, there has been a strong upward price movement in the market valuation of the XMR/USD over a week. The crypto has continued to consolidate its uptrend on the threshold of a push it got against the 50-day SMA’s trend-line and the Bollinger Upper Band on December 17.
The Bollinger Middle Band has been playing a supporting role for re-occurrence of an uptrend in the XMR/USD market price line. Price now faces a kind of correction around the Bollinger Upper Band at $56 market level. The Bollinger Bands are over the 50-day SMA. The Stochastic Oscillators have penetrated into the overbought zone. The bullish trending path has been found within the Bollinger Upper and Middle Bands.
A reversal against or a breakdown of $48 mark could suggest an invalidation of the current bulls’ market presence.
XMR/USD Short-term Trend: Bullish
XMR/USD market worth still maintains its significant upward movements in the short-term run. The pair has strongly pushed northward further earlier today to test around $57 mark before witnessing a retracement towards the Bollinger Middle Band.
Yesterday, the crypto mainly featured a chain of lower lows and lower highs around $54 and $52 price levels over the 50-day SMA’s trend-line. The Bollinger Middle Band are over the 50-day SMA. The Stochastic Oscillators have crossed from the overbought zone to point south below range 80.
The XMR/USD price may need to be slightly pushed downward around $52 level to allow bull garner a needful momentum to resurface in the trade.
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