XMR/USDT Break Alert, Bullish Momentum ?? Moreno Analysis Today💎 XMR has certainly caught our attention. After breaking out of the ascending triangle, XMR showcased a notable upward surge. However, it currently faces resistance at the supply zone, and given the candlestick patterns, there's a likelihood of XMR retracing back to the support level to gather momentum for another attempt at breaching the supply.
💎 Should XMR manage to break through the supply zone swiftly, we could witness a significant rally, propelling it towards the major resistance area.
💎 On the flip side, if XMR retraces to the supply and fails to find solid footing at the support, there's a risk of it dropping further. In such a scenario, XMR might revisit the robust demand zone once more.
Moreno
XMR BUY SETUP XMR breakout Symettrical triangle . wait for retest on $174-$175 and we can setup entry
Privacy coin new trend now!
Growth buyer volume. make a new momentum after pump
Expecting upward movement from here back to try resistance trendline🚀
Stoploss : $168
Please comment on my idea. Thanks.Xmr looked like manage to breakout couple days ago with good volume. But it seems there is a strong short-term resistance above the cup formation and the price rejected back from that resistance line which is the white coloured line. Also volume decreased significantly after the rejection which is really not so good for an upward price movement. We simply needed much more people trading and buying xmr to breakout succesfully above. Right now it also didnt seem to breakout downward and try to consolidate.
I m very willing to buy xmr because im sure it will go up. But when and how is 2 very important question. It can also form a triple top pattern before making the big breakout above therefore going down like in the first cup formation. Im watching and waiting before making any trades.
Good luck and be responsible with your hard earned money!
Always watch out for opportunities but be carefull.
