XMR - 6h. Sellers are preparing for the test of $120-125On January 10, there was a fierce struggle in the XMR market for the range of $168-172. Volatility that day was rampant and the prospect of continued growth as well.
Trading volumes were abnormally high. On this day, the price of XMR fell sharply and hit the mark of $120 in 2 weeks.
The new buyer's attack on January 27 looks much weaker. Particularly low volumes near the critical range of $168-172. At the moment, buyers look weak and unable to keep this range.
If sellers take control of this range - globally we will expect a repeat test of the range of $120-125.
Given the high probability of BTC correction , scenario for continued growth to the mark of $200 is still alternative. It will become the main one after consolidating buyers over $168-172
P.S. Our global idea was to turn around from $ 172.5
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Xmrtrend
XMR-4h. Are buyers ready for the test of $175?The relatively independent XMR coin, which has repeatedly shown its character and continued to grow during the BTC correction, found itself in an interesting situation.
From November 26, the price of HMR clearly moved within the white growth channel , well predicting the next local high.
However, on December 21, buyers began to be careless with the maintenance of the trend line, as a result, the price repeatedly went beyond it.
The last two attempts to test the upper trend line of the white channel on December 23 and 27 were unsuccessfu l.
In t he range of $165-170 there was a strong seller, which effectively restrained the growth of the price of XMR. Thus, a triangle was formed, which is more likely to shoot up.
The critical point of this scenario is $156. After breaking this mark, sellers will quickly test $144. What can happen next - we will definitely write when this alternative scenario comes into force.
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We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!
Talking about Monero...Monero is having a strong position and currently is among the biggest single-digit gainers in the crypto market especially when considering the top 20 digital assets. The market retraced following the gains that came just before Christmas. The market is currently in the green zone and it is believed that 2019 will see the assets break out of bear range and record significant gains.
At the moment of writing, Meanwhile, Monero is trading at $46.99 at the time of writing. This comes after a loss of 0,47% during this day. Like most of the cryptos during the previous days, Monero caved in at the grip of the bears in the past few days. The crypto corrected lower breaking below a couple of support areas highlighted the 61.8% Fib retracement level of the last upward swing of $53.16 and a low of $53.76, marginally below $50.00. The other broken support is at $44.00, although the Monero formed a low at swing low before resuming the current surge.
Following the trend, Monero is going to be in the range of $47-48,5
