XMR, ancient coin | $212On weekly chart,
Monero BINANCE:XMRUSDT is in consolidation phrase.
It's trading at $164.8 now
I expect Monero will move up to $212 to complete 1.0 Fib Ex and 119.5% from $96.7
Wait and see
Monero
SELL Monero, Not Quite, Not YetSince monero broke it's 164.60 support level on Feb 9th 2023, it has attempted to break this level in March and April and failed. Monero then retested the support level of 137.60 which was formed on December 28th 2022 and has been testing and holding multiple times.
Fast forward -for the last 6 days Monero has reformed and has been consolidating and holding the now reformed support level for the first time in 5 months
Once monero continues holding 164.60 or 151.90 it will pump. Keep the hodl bag
XMR Appears to be in a Cup and Handle Continuation patternThere is a lot of bullishness in the XMR chart despite everything that is going along globally with politics and economics. For a long time I have watched XMR with the assumption that it may be forming a massive double top but so far that has not materialized
A zoom in onto the handle shows a clear falling wedge which has a bullish bias. There is a double bottom that has been forming late since late January and it seems that the inverse head and shoulders is beginning to perform. I hope for this to proceed rather impulsively in short order and I have my entry at the neckline of the pattern. Price action can squirt right out of the wedge or price may flip the wedge resistance to support with a retest.
The main chart shows some of the other targets in red on the fib or at the full flag pole performance. There is chance that we get a throwback to the height of the cup at about $515 once we reach some intermittent targets.
Price action has found support on both the 200SMA and the 200EMA as shown below. Candle bodies on the EMA and wicks to the SMA. Finding support on such long term moving averages is bullish but also opens price action to test it repeatedly as support before really taking off.
The moving averages are under a weekly death cross so I expect to see some activity at the 50 SMA. Hopefully a nice flag continuation pattern but I can address that in due time.
The main noise in my head about this trade is my intense long term bearishness on equities and how crypto has generally moved in sync with with equities. We don't have the same data with crypto and equities running in opposite directions that we do with say equities and gold or silver. But bullish chart patterns are bullish chart patterns and I am going to trade this bullishly.
✴️ Monero Year Long Consolidation Phase | Think Long-TermSince June 2022 Monero (XMRUSD) has been moving within a sideways channel with a bullish bias, that is, printing higher lows.
A year is a very long time in Crypto and what will happen next is something big.
This long-term consolidation phase can continue, believe it or not, but it can also break anytime.
Once the massive bullish action start, you will wonder "Why didn't I jump in in 2023?".
You will be thinking, "I saw it, it was trading at bottom prices forever and I just ignored it...", not only about Monero but about most Cryptos, that's how market psychology works.
When the time to buy is right, we tend to detach and feel not interested.
Once everything starts to move and euphoria shows up, the prices are bad as they become too high but that is when people want to get involved.
There are many opportunities now but we need to focus on the long-term.
Think long-term!
That should be the mantra when buying, when reading, when planning... Think long-term and success is guaranteed.
Namaste.
Downward Trend and Key Support LevelsOver the past month, XMR has been trending downwards, experiencing a moderate level of selling pressure. This led to the breach of its initial support level around $147, and the price subsequently hit the second support level at approximately $136. As anticipated, there was a positive reaction at the second support level, resulting in a 6% increase in XMR's price. However, the buying power was not sufficient to break through the resistance at the $147 range, indicating a pullback in the ongoing downward trend.
The RSI level for XMR is currently at 37, indicating a moderate level of downward momentum. This suggests that there is still some selling pressure on XMR, but it is not yet in an oversold condition. The RSI level of 37 aligns with the overall analysis, confirming the presence of bearish sentiment in the market.
As the selling pressure persists, XMR lost support at the $136 range and is now testing an important support level situated between $122 and $128. This support level corresponds to the starting range of the last upward movement observed on a weekly basis. It is crucial for XMR to hold above this support range to avoid further downward movement.
Taking a broader perspective, on longer time frames, XMR is currently in a range-bound trend, while on a daily time frame, a clear downward trend is evident. To change the trend and reverse the downward movement, XMR would need to break the downtrend line and rise above the resistance level of $150.
Considering the combined analysis of the price action, support and resistance levels, and the RSI, it suggests that the market sentiment for XMR remains bearish, with selling pressure continuing to influence the cryptocurrency's price. Traders and investors should closely monitor the support level around $122 to $128, as a significant break below that range could potentially lead to further downside movement for XMR.
XMR Potential Ban of anonymous crypto projects !If you haven`t sold XMR here:
Then i will remind you that Monero (XMR) has gained popularity for its capacity to enhance user anonymity, making transactions challenging to trace through the utilization of stealth addresses. However, this aligns with a goal that regulators do not necessarily support in the cryptocurrency space.
A leaked version of a US draft bill has surfaced, suggesting the elimination of anonymous crypto projects. The proposal also mandates that DAOs, DeFi platforms, and exchanges register legally in the United States. This development indicates a potential shift towards greater regulation and oversight within the industry.
My price target for XMR is $96.50.
Looking forward to read your opinion about it!
Monero (XMRUSDT) an 80% rise I won't be talking too much about how bullish XMR is currently. But we just went along quite aggressively considering multiple technical aspects of the current price action. The most important is obviously the weekly break and close above the long-term downtrend trendline. Secondly, we have the price hoovering above the 61.8% Fibonacci level for quite some time now. It is either to go big now or....
We are going in now!
Monero's $130 Threshold: The Make-or-Break for an 80% Upswing💎 Since #XMRUSDT's bounce and rejection of the 78.6% Fibonacci support, coupled with the uptrend trendline, we're seeing the price gravitate towards that trendline once more. This suggests that buying pressure could be ramping up, opening the door to a significant upside potential.
💎 However, this bullish scenario will hold water only if the $130 psychological and technical support level remains unbreached. If this condition is met, we could be looking at a nearly 80% price increase, with #Monero potentially setting its sights on the double Fibonacci resistance at $258.
💎 Our ParadiseClub members should also keep an eye on the nearest resistance at $196, where the 23.6% Fibs intersects with the downtrend trendline.
💎 While less likely, we must also consider the scenario where OMXSTO:XMR breaks below the $130 level. Such a move would be a major red flag for the bulls.
✴️ Monero Long-Term Recovery, Leads To Long-Term GrowthThe bear market bottom was set June 2022 for Monero, XMRUSDT.
After this low was hit, we are seeing a long-term recovery phase.
We have a strong resistance level around 180.
Each time this level is hit it becomes weaker.
Monero is on the move again based on this 3D chart.
The last two candles closed bullish and the current one is pushing prices above EMA10.
This pair is set to challenge 180 again... As soon as 180 breaks, we should see a strong jump take place.
Then more consolidation before the next bull-market cycle.
Patience is key.
Monero is good for the long-term.
Namaste.
Corrective CycleIn recent weeks, XMR has demonstrated a persistent trend confined within a defined range. Significantly, it has breached its upward trend line, indicating a shift towards a corrective cycle on the daily time frame. Presently, XMR is trading within the $153 range. Notably, transaction volume has experienced a notable decline, falling below the 30-day average.
Monero's price movement is influenced by two support levels, with particular emphasis on the second support range. The first support stands at $147, while the second support lies within the range of $135.7 to $138.8. Sustaining the second support range presents an opportunity for potential price growth, potentially reaching the upper bounds of the weekly channel range around $186.
Considering the broader long-term range trend of the Monero currency, favorable market conditions can be anticipated to facilitate substantial growth.
Xmr Building Up for Massive Breakout Seems Like Getting ready for Massive Breakout formed Descending Channel In 3 days Timeframe Incase Of Breakout Expecting 180 to 200% bullish Wave
XMRUSDT Sell/Short Setup on 4H TFBearish XABCD pattern. Once this support is broken, we can take an entry @ 157 and have the retracements for our planned take profits as follows:
🚪Entry: 157
💰Trade: Cross 10-15x (2% of capital)
⛔SL: 10-20%
🎯1: 152.91
🎯2: 148.89
🎯3: 144.88
🎯4: 139.16
XMRUSDT H&S pattern remains validAfter an expected pullback, we are re-entering the XMRUSDT long as it offers a much better risk/reward opportunity.
XMR Big Upside - Caution Waiting For Back TestXMRBTC - If you are waiting for the backtest of that massive breakout, you may not get the chance for it.
Last cycle it ran 1500% against BTC before officially backtesting the break.
Cheers,
XMRUSDT potential inverted H&S reversal patternXMR has rejected the uptrend trendline, after which the price has produced a new higher hight. This by itself is a bullish sign, but we must not forget about the potential Head and Shoulders reversal pattern, which is also taking place.
#Monero Bulls Fail To Break $165, Sellers in ControlPast Performance of Monero
Monero bulls are struggling at spot rates. Even with the broader market expanding, XMR remains pinned in a bear formation. Presently, resistance is at HKEX:165 , and the coin remains in a bearish shape defined by the bears of early February to mid-March 2023. As it is, support lies at the middle BB, that is, the 20-day moving average, and around $158.
#Monero Technical Analysis
The path of least resistance from a top-down preview is southwards. Notably, sellers throughout February to mid-March capped the upside. Resistance is at HKEX:165 , while support is $158. The middle BB also serves as a vital reaction line. However, the March 27 bear bar defines the current formation. Although prices floated higher, they couldn’t break HKEX:165 and reverse the losses of March 27. Therefore, conservative traders can watch how prices react at $150. Losses below this level may see XMR drop to HKEX:130 since sellers are in control from an effort versus result perspective.
What to Expect from #XMR?
Unless there is a sharp, high volume break above HKEX:165 , reversing March 27 losses, sellers will be in control. They will be aligning with sellers in February 2023. Currently, immediate support lines are at HKEX:158 and HKEX:150 , respectively.
Resistance level to watch out for: HKEX:165
Support levels to watch out for: HKEX:158 , HKEX:150
Disclaimer: Opinions expressed are not investment advice. Do your research.
Monero Road AheadMonero has been trading in a downtrend for a while, and almost strictly within the red shaded (fib .236 - .382) area for 11 months straight. It has a date with destiny soon though, and will either breakout within the shaded triangle area or collapse down to the $145 range. If Monero clears the .382 fib line at $172.60, I really need to see a firm retest. To confirm both the breakout of the downtrend, and the flippening of .382 from strong resistance to support.
The .5 fib at $195 will not be as strong as what .382 has been. If Mordinals or larger macro factors hit quickly, $195 will be taken over with little resistance.
Entering now at $160 and exit upon passing $195. Targeting $205 for a 28% gain sometime in late April/early May. NFA
Moreno technical analysis. Support is holding, so far.So far it looks like a trend is holding up. There was breakout. Will it hold is another question... The sharp drop was caused by sharp BTC rice. If everything holds the top would be roughly correlating with the XMRUSD analysis. The peak would be somewhere around 2025-2026.
Moreno technical analysis. The huge ascending triangle.There is very slowly forming giant ascending triangle which could potentially peak during2025-2026.
Example of an ascending triangle. Notice the flat iupper line and the rising lower line. This is a generally bullish line. (Figure 6.1b "Technical Analysis of the Financial Markets" Page 131)
The measurement. The breakout (C) should see a sharp increase in volume, That upper resistance line should act as as support on subsequent dips after the breakout. The minimum price objective is obtained by measuring the height of the triangle (AB) and projecting that distance upward from the breakout point at C. (Figure 6.3a "Technical Analysis of the Financial Markets" Page 136)
Monero we can reject off the weekly ema - making a higher low before heading for the cloud ? Make XMR relevant again
Prevailingnine 4.4.23
XMRUSD Accumulation ZoneMonero is currently in an accumulation zone.
Good zone to buy long term.
With monetary privacy concerns over the next years, Monero seems to be a good
alternative to hedge agains CBDCs
Not Financial Advise.
Monero, XMR to the downside? You have been warnedGood day everyone,
The daily time frame suggest that XMR can see a massive move to the down side. Calling out for all of eternity XMR incoming measured moves of $118 then $66, I could give you all 5 layers of confluence I see but what fun would that be, hint one of them...starts with a H ends with a S...Happy Trading folks!
