XMR/USD Medium-term Trend: Ranging Resistance levels: $52, $56, $60 Support levels: $40, $36, $32

On December 28, XMR/USD lost momentum to sustain past its 50-day SMA’s trend-line. Just about then, the crypto has been majorly experiencing lower lows underneath the indicator’s trend-line.

Presently, the range movements have been prolonged to get along with the Bollinger Middle Band. The 50-day SMA is located above the Bollinger Middle Band. The Stochastic Oscillators have slantingly headed and bent southwards a bit above range 20.

It shows that bears are somewhat in control of this crypto-market at the expense of bulls’ weakness. Being as it is, traders are enjoined to look out for a decent buy entry between $44 and $36 price levels.

The market valuation of XMR/USD was moving in a range as at the early trading sessions commences today. Short-term trend has now briefly changed to bearish outlook as the US dollar seems to have a strong push of the market.

As at yesterday trading sessions, the crypto basically moved around $48 and $47 price levels. Price has been trading around the Bollinger Middle Band. Both the 50-day SMA’s trend-line and the Bollinger Middle Band are now found conjoined. The Stochastic Oscillators have slightly dipped into the oversold zone.

The bearish market appears taking on its driving force against the bull’s inactive market driving strength currently. Nevertheless, traders may still await a reversal from the current bearish trending movement of the market to observe a decent buy entry.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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