Monero had lower liquidity during the Asian session demonstrating several price gaps. The currency pair moved above the local ascending trend line during the American session, but then fell below it and even managed to cross the support area at 214. However, bears were unable to change the situation significantly as XMR price jumped off the midterm descending trendline (paint in green on the screenshot).
Later the Asian session XMR/USD managed to jump over the support area at 214. There are no candlestick signals currently.
Possible scenarios for Monero are the following:
XMR/USD will move towards the next resistance area at 219 and test this level.
Monero will cross the current support area at 214 and fall below it targeting the midterm descending trend line (green). The next aim may also be at the next support area (204).
The currency pair will stay close to the current levels with no significant fluctuations.
The currency pair jumped off the lower border of the Ichimoku cloud on the daily chart meaning bulls may have chances to change the situation in the nearest future.
Check the full crypto analysis HERE
Later the Asian session XMR/USD managed to jump over the support area at 214. There are no candlestick signals currently.
Possible scenarios for Monero are the following:
XMR/USD will move towards the next resistance area at 219 and test this level.
Monero will cross the current support area at 214 and fall below it targeting the midterm descending trend line (green). The next aim may also be at the next support area (204).
The currency pair will stay close to the current levels with no significant fluctuations.
The currency pair jumped off the lower border of the Ichimoku cloud on the daily chart meaning bulls may have chances to change the situation in the nearest future.
Check the full crypto analysis HERE
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.