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MONERO (XMR/USD) Looking for his next destination

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April 8, 2019 | 

Joanna Newman |  2 Comments| 

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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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TAGS: MONERO

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2 Comments

Like this article

Tsion Azoulay
Great article

2     Reply    1 year ago from: Israel

Yosef Eliyahou Az
agree great article

0     1 year ago from Israel

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