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MONERO (XMR/USD) Looking for his next destination

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April 8, 2019 | 

1925 Views | 

Joanna Newman | 

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On the daily chart , we crossed the 200 moving average line which is a positive sign for further gains on the Monro price.
You can see that once the price touched a moving average, it fell but immediately Rose and bypassed the old price and this time broke the moving average 200, one more step forward confirming the strength of buyers and the high demand. From the point of view of indicators, we use the Ichimoku and Stochastic:
1- Ichimoku-All the positive signs support the continued strengthening of the Monero
2- Stochastic- we are approaching Overbought which means that there could be a correction of the upward movement.
If we turn to the weekly chart, there seems to be strong resistance at 80 in the price of the Monroe and on the monthly chart another resistance in the 90.

Technical Indicators

Since all the signs are positive we recommend buying signals in the long term, for those looking to be more active and not stay too long on a long term position can buy Monroe until the price reaches 80 and then turn a position into a sell position.

Buy Monero: 72.11
Stop Loss: 65
Take Profit: 80

Monero price analysis xmr chart

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COMMENTS (2)

Tsion Azoulay  Great article   2 years ago from Israel

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Yosef Eliyahou Az  agree great article  2 years ago from Israel

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Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting allthe data fromseveral exchanges to provide the most accurate price available.

24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current priceand the price24 hours ago.

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