Xmrusd
XMR Buy a break setup.XRMUSDT - Intraday - We look to Buy a break of 332.3 (stop at 318.9)
Daily signals are bullish.
Price action continued to range between key support & resistance (310.0 - 331.0) although we expect a break of this range soon.
A break of bespoke resistance at 331.0, and the move higher is already underway.
The previous swing high is located at 345.0.
We look for gains to be extended today.
Short term bias is bullish.
Our profit targets will be 369.3 and 389.6
Resistance: 331.0 / 345.0 / 360.0
Support: 320.0 / 310.0 / 300.0
XMR Price Is All Set To Break Above $500XMR Price traded at $326 with a gain of 5% in the last 24-hour and 16% up in the weekly time-frame. Furthermore, XMR bounced back from the support of $288. In contrast, the market capitalization stands at $5.79 billion. Technically, investors can perceive a positive crossover in the EMA, and the price is above all the EMA. RSI index showcases an upward slope. Moreover, the price movement can be towards the TP- 1 of $500 in future trading sessions.
TP- 1: $500
Support: $288
Monero: Movin' Lower?To stay up-to-date with the latest market developments, be sure to subscribe to Kraken Intelligence at kraken.com
What Is Monero (XMRUSD)?
Monero (XMR) was among the first cryptoassets to feature cryptography that offered real advances in privacy and fungibility over available alternatives. Its key differentiator was its ability to allow users to send and receive transactions without making this data available to anyone examining its blockchain.
As such, Monero is often classed with other privacy cryptocurrencies such as Zcash that have sought to address privacy weaknesses in Bitcoin. This, in turn, enables bitcoins to be traced, making them less fungible, as companies are able to identify and blacklist coins involved in suspected criminal enterprise, as an example.
Monero’s origins are more comparable to Bitcoin’s, involving a small online tech community that grew quietly over time as the project gained credibility and market share. Monero’s software is programmed to update every six months, a regular schedule that has helped it more aggressively add new features without much controversy. This has meant that Monero has been able to continue to introduce cryptographic advances like stealth addresses (which allow users to create one-time addresses) and ring confidential transactions (which hide transaction amounts).
XMR Statistics:
Market Capitalization: $5.8B
CryptoAsset Rank: #25
24-Hour Return: +2.5%
7-Day Return: +20%
From All-Time High: -34%
Technical Setup:
When looking at the XMR 1D chart, we'll see that XMR is clearly in a broadening ascending wedge. As a matter of fact, XMR just tested the wedge's resistance for the 5th time in the past 6 months or so.
With XMR having failed to punch through the wedge's resistance, one could expect history to repeat and XMR trend back down to its 50D SMA (currently $237) in the forthcoming days/weeks.
Note that every time XMR tests the wedge's resistance, XMR mean reverts back down to or through its 50D SMA.
This mean reversion lower would be congruent with XMR's valuation relative to BTC trending lower after failing to punch through 0.00575 BTC resistance for a second time in a row. Double top, anyone?
XMR Buy the uptrend.XMRUSDT - Intraday - We look to Buy at 312.2 (stop at 299.6)
Daily signals are bullish.
We look to buy dips.
Dips continue to attract buyers.
20 4hour EMA is at 311.1.
Trading close to the psychological 300.0 level.
We continue to expect further losses to be limited and look to set longs for a further drive higher within the channel.
Our profit targets will be 348.8 and 368.8
Resistance: 330.0 / 350.0 / 380.0
Support: 315.0 / 300.0 / 280.0
Compound profits. Only adding on dips until full retracement of the Bear cycle and new ATH.
I am not a good trader but this trade will print, undoubtable.
XMR / USD - Trading Idea>193, TGT - 250, SL = Take calculated risk
Wait for candle to close above 193
Monero (XMRUSD) – Coin of the WeekMonero was introduced in 2014 with a single goal: to enable transactions to be conducted privately and anonymously. Even though it's a common misconception that BTC may hide a person's identity, since blockchains are transparent, it's always simple to track transfers back to their original source. XMR, on the other hand, is designed to hide both senders and receivers using sophisticated cryptography.
Technically, XMR broke the resistance area at $288 USD and is making new highs with a diverging RSI, sign that tells us that a bigger correction is imminent. For this pair we have 2 working scenarios: one is a consolidation in this area marked with the blue arrow on the chart and the second one a bigger down move that could reach the minor support, the blue trendline or the major support. We advise caution.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Monero, some thoughtsJust an idea, my personal opinion
Are we approaching a new steeper Uptrend Channel on XMR? ;)
If so, follow the arrows!
LENDING:
Celsius Network - Download the App to earn Interest in Crypto, located in USA:
celsiusnetwork.app.link
Bitrue - Leading in Crypto Lending, located in Singapore:
www.bitrue.com
FREE BASIC INCOME:
A Basic Income Coin + Wallet accessable for everyone via Webbrowser, made by eToro CEO:
wallet.gooddollar.org
CRYPTO EXCHANGES:
Bitfinex, one of the biggest Exchanges in Asia, Lending, Spot Trading, Margin Trading and Futures:
www.bitfinex.com
Come to Bittrex - lots of Coins to earn there, located in Liechtenstein:
bittrex.com
3x Long Token is tradable on Poloniex, located in USA-Delaware:
you get 10% of my trading fees and I 20% of yours
poloniex.com
***ALL MENTIONED IDEAS ARE MY OWN OPINION AND ARE NOT A TRADIGN ADVICE***
***PLEASE FOLLOW AND LIKE IF YOU LIKED THIS IDEA!!****
XMRUSD Trend Continuation PatternIf you like the content and are getting value out of it, please make sure to hit that like button and leave a comment. Also, if you're interested in seeing more of my analysis don't forget to follow me, and make sure to check out my YouTube Channel (link can be found on my profile page) for more in-depth analysis.
Welcome back for some more chart analysis practice. I found another trend continuation pattern opportunity here on XMRUSD. Here as you can see, the market broke above the previous highs of 243.344 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ 244.287. Since my entry got hit, I put my stop loss 10 pips below the most recent low @ 229.178, and my target @ 261.366.
Ultimately guys, while trading can be very simplistic at times, it is genuinely a hard skill to master, and if you are serious about becoming a consistently profitable trader, then you need to master chart analysis. So, take it seriously, get out there and practice it every day.
Disclaimer: This is not a recommendation or an endorsement to buy, sell, or take any positions of any kind, in any market. This is for educational purposes only. I am not taking this trade in real life, and I have not back-tested this particular strategy on this currency pair, so I really don't know how this type of trading strategy will work on this currency pair. That being said, never trade anything you haven't back-tested on your own. Don't trade a strategy just because someone tells you it's a good strategy, always back-test the strategy in question over historical data before trading it with real money. Trading a strategy that has not been back-tested is the equivalence of gambling your money away, or trying to shoot a target when its pitch-black outside. You work hard for your money, so don't throw it away.
XMR Buy a break setup.XRMUSDT - Intraday - We look to Buy a break of 245.2 (stop at 235.5)
Daily signals are bullish.
Pivot resistance is at 241.0.
Short term momentum is bullish.
The bias is to break to the upside.
We look for gains to be extended today.
Our profit targets will be 273.6 and 283.8
Resistance: 255.3 / 275.0 / 288.8
Support: 230.0 / 220.0 / 200.0