XMR Correction of the previous rapid growth is necessary.
Essentially, this idea is a corrected fragment of our global vision presented in the previous idea.
Most likely, the rapid growth of XMR was caused by the news about the hardfork, which took place on 17.10.20. The Monero update was successful and as a result increased the transactions speed when compressing information, as well as increased the level of users anonymity.
And even earlier, there were rumors on the Internet that when Bitmex started having problems with the lawsuit with all its consequences in early October, users withdrew from the BTC exchange, and other exchanges began to block them. Then users switched to anonymous XMR, which increased the demand for it and, accordingly, the price.
Although, it is time for Monero to work according to the technical analysis rules. That is, to correct this rapid growth.
We see the first target from below in the zone $97-100
The more global target below is around $75
______________________________________
Since 2016, we have been analyzing and trading the cryptocurrency market.
We transform our knowledge, trading moods and experience into ideas. Each "like under the idea" boosts the level of our happiness by 0.05%. If we help you to be calmer and richer - help us to be happier :)
Most likely, the rapid growth of XMR was caused by the news about the hardfork, which took place on 17.10.20. The Monero update was successful and as a result increased the transactions speed when compressing information, as well as increased the level of users anonymity.
And even earlier, there were rumors on the Internet that when Bitmex started having problems with the lawsuit with all its consequences in early October, users withdrew from the BTC exchange, and other exchanges began to block them. Then users switched to anonymous XMR, which increased the demand for it and, accordingly, the price.
Although, it is time for Monero to work according to the technical analysis rules. That is, to correct this rapid growth.
We see the first target from below in the zone $97-100
The more global target below is around $75
______________________________________
Since 2016, we have been analyzing and trading the cryptocurrency market.
We transform our knowledge, trading moods and experience into ideas. Each "like under the idea" boosts the level of our happiness by 0.05%. If we help you to be calmer and richer - help us to be happier :)
🎁 -20% on ALL trading fees OKX
okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
Related publications
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.