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.

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