XMR IS BEARISHHi, dear traders. how are you ? Today we have a viewpoint to SELL/SHORT the XMR symbol.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
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XMRBNB
XMR/USDT 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this XMR /USDT 1DAY chart update by CRYPTOSANDERS.
I have tried to bring the best possible outcome to this chart.
CHART ANALYSIS:- monero (XMR) also surged earlier in the day, as it edged closer to a key resistance level.
XMR/USD moved to a peak of $178.15 earlier in the day, which comes less than a day after falling to a low of $169.84.
Today’s surge sent monero closer to its long-term resistance level at $180.00, which was last broken on Sunday.
As can be seen from the chart, the relative strength index (RSI) is currently hovering below a ceiling of its own at 65.00, with a current reading of 63.25.
In order for bulls to take XMR back above the $180.00 level, price strength will first need to surpass the 65.00 mark.
This is not a piece of financial advice.
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XMRBNB Neutral with Short Bias1. XMR/BNB 4-hour chart.
- A descending triangle has formed. Not a good sign. Bearish sign.
- But on RSI, we are seeing higher low. Good sign.
2. XMR/USD 4-hour.
- A descending triangle has formed. Not a good sign. Bearish sign.
- But considering we are in bull market, this descending triangle has less impact.
3. Historically XMR/BNB has strong support at 3.2. If that doesn't hold, the next support is 2.8 (-12.5%)
IMO,
- the near future outlook for XMR/USD isn't bad.
- Just that the likely hood of BNB overpacing XMR is higher.
XMR/BNB at its peak?1. XMR followed extremely closely to ETH in terms of price movement.
2. See Red is ETH.
3. Which means similar to ETH, XMR has rallied passed Phase E of Wyckoff distribution.
4. Where as for BNB, I believe it is on the verge of breakout at Phase D.
5. See
So based on these indicators, I think the likelihood of BNB to rally harder than ETH (and XMR) is higher. Meaning XMR/BNB is somewhat at its peak now and we are about to see a reverse trend on XMR/BNB.
XMR/BTC (Testing Major Resistance)BINANCE: XMRBTC
-Monero still on an uptrend as the price recovers back above 8200 sat
-It is now testing major resistance area since July 2019
-Last August 21, it had a failed breakout and many Bulls got stopped out
-We need to be more cautious this time as the market is still not stable
-XMR needs to hold above 8300 for a couple of days to avoid fakeouts
-If we can see acceptance above the resistance area
-The chances we will see upside continuation will increase
-The targets are up to 10k sat or higher
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XMR/USDT (Bullish 200ma Dynamic Support?)XMR/USDT
-bullish rejection at 200ma dynamic support
-forming a consolidation box
-holding above 20ma support
-technically, the market still bullish
-a safe trade is to wait for a break above the box
-open a Long position and target the swing up at 95s
-stoploss is under 62s
XMR / BNB Potential DirectionsTwo potential paths that XMR / BNB takes. Idea may be validated by a close above resistance, or a candle testing the resistance and showing a rejection (closing below). Not in any positions here at present.
XMR/BTC (Bull break?: up to 30% profit)XMR/BTC
XMR broke both 100MA & 200MA on the daily chart including the trendline resistance a few days ago.
The priority now is going up to challenge the swing high at 9500 sats area.
Stop-loss is placed under the 200MA.
