- The bulls remained in control of the long-term outlook.
- Responsible buying at pullback areas may be considered
XMR/USD Long-term Trend: Bullish
Supply zone: $100.00, $110.00, $120.00
Demand zone: $30.00, $20.00, $10.00
XMR is in a bullish trend in its long-term outlook. The bearish correction did push the cryptocurrency down to $63.55 in the demand area as predicted in the analysis of 13th April.
The bulls returned was announced with a large engulfing candle at $64.05 on 16th April. XMR rose to $70.85 in the supply area. This may be the high of the week if price closes below this though was up at $70.67 earlier today.
Price is above the two EMAs an indication of strong bullish pressure and the stochastic oscillator signal points up at 63% an indication of upward momentum in the long-term.
$73.00 in the supply area may be retested and formed a triple top and a possible breakout to the upside may occur as the bullish pressure becomes stronger and more candles open and closed above the two EMAs.
The views and opinion as expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
Cryptocurrency Prices: Live Real-Time Coin Market Cap Values