XMR/USD Medium-term Trend: Bearish
Resistance levels: $96, $100, $104
Support levels: $62, $58, $54
The XMR has been suffering from the USD market valuation since about a few hours ago today. The market fell from underneath the upper Bollinger Band to push against both the middle and lower Bollinger Bands. About a few hours ago, the crypto dropped below the $68 market low. It must be recalled that around Nov. 15 and 18, the market moved in a range format. Currently, the market has been reversing from the downward movement. The 50-day SMA is located over the Bollinger Bands. The Stochastic Oscillators have moved toward range 20. They still point south over it to denote that bearish market is on-going. However, a break above the $84 mark could signify that bullish market has returned back to the market.
XMR/USD Short-term Trend: Bearish
As at the early trading sessions today, the XMR/USD market moved in a range. The crypto suddenly experienced a decline from around the $84 mark to close towards the $65 levels. As at present, the market falling force is causing the southward-stretch of the lower Bollinger Band. The 50-day SMA is found over the middle Bollinger Band at a near location. The Stochastic Oscillators have crossed at range 50 to slightly point south. It shows that the bearish trend isn’t over yet. There are indications that the market may soon be pushed southward further past the $65; the last approached low market point. And, a correction could occur at that mentioned point to possibly give a decent long entry of the crypto.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
Monero has seen a small price increase totalling +2. 4% over the past 24 hours of trading. The cryptocurrency is currently exchanging hands at a price around $107. 79, at the time of writing after seeing a 1.
36 hours after hard forking and Monero buyers are yet to confirm Oct 15 gains. If anything, there seems to be resistance for upsides and this is negative for bulls. Anyhow, we suggest aggressive buyers to load at spot prices with stops at $190 while risk-averse traders should be on the side lines until there.
Monero has officially released its Malware Response Workgroup website yesterday. In an effort to help protect Monero’s community, the website aims to provide resources to educate about the types of malware that may take advantage of users.
Monero has seen a 1. 93% price drop over the past 24 hours of trading. The cryptocurrency is currently exchanging hands at a price of $105 after experiencing a 18. 79% price drop over the past 7 trading days.
As we enter a new week, the cryptocurrency markets are snaking up and down in a motion that could only otherwise be experienced on a rollercoaster. We can only expect this volatile start to the week to continue over the coming hours and days.
While the cryptocurrency market is constantly showing high volatility, the prices of various coins which were on the bearish side have been gaining the momentum back. On 24th June, Bitcoin [BTC], was trading at its monthly low of $5826 has bounced back to $6167 today.
The short and medium-term outlook is in the downtrend. Traders may consider selling at key areas after bearish candlesticks formation. BSV/USD Medium-term Trend: Bearish Supply zones: $90, $100, $120 Demand zones: $50, $40, $30 BSVUSD is in a bearish trend in its medium-term outlook.
On the downside, if the bearish trend continues, the price will depreciate to the low at $110. On the upside, if the bulls break above the EMAs and the price is sustained above it, the crypto’s price will rise.
On the upside, if the bulls break above the EMAs, the crypto’s price will resume its bullish trend. On the downside, if the bulls fail to break the EMAs, the crypto’s price will continue its range bound movement.
On the downside, if price continues its fall, the crypto’s price will find support at $60 price level. On the other hand, if the bulls break above the EMAs, the crypto’s price will rise to retest the $84 resistance level.
On the upside, if the bulls break above the EMAs, the crypto’s price will rise to retest the $5,200 price level. On the downside, if price continues its fall, the crypto will fall to a low at $4,800 price level.
Latest Bitcoin (BTC) News If anything, we can attribute all this attention Bitcoin is receiving–as far as price is concerned–to late 2017 parabolic rise. Well, while it was a good thing in that it brought a lot of attention to Bitcoin and blockchain as a trustless technology, it did leave investors with a lot of […]
The bears are in control of the short-term while the medium-term ranges. Traders may consider selling around key areas. BCH/USD Medium-term Trend: Ranging Supply zones: $400, $500, $600 Demand zones: $100, $50, $30 BCHUSD outlook in the medium-term continues in a range-bound market.
