Monero is sitting at a pivotal point!
Chart Overview
*XMR/BTC WEEKLY
*Parallel channel
*Support Points (Green arrows and white horizontal line)
*Resistance Points (Red arrows and white horizontal line)
Analysis
From the point of writing, Monero has increased 24% in the last 7 days (compared to USD). Also Monero is finding a lot of support at the white line (0.6103). Monero fell closed last week below this point, if Monero closes above 0.6103 this is a bullish sign.
Conclussion
Monero has been in a downward parallel channel since August 2018. There are signs of strong support being established and this could create a good platform to spring out into a strong bullish run.
What do you guys think, bullish or bearish?
*Disclaimer: NOT professional advice
*XMR/BTC WEEKLY
*Parallel channel
*Support Points (Green arrows and white horizontal line)
*Resistance Points (Red arrows and white horizontal line)
Analysis
From the point of writing, Monero has increased 24% in the last 7 days (compared to USD). Also Monero is finding a lot of support at the white line (0.6103). Monero fell closed last week below this point, if Monero closes above 0.6103 this is a bullish sign.
Conclussion
Monero has been in a downward parallel channel since August 2018. There are signs of strong support being established and this could create a good platform to spring out into a strong bullish run.
What do you guys think, bullish or bearish?
*Disclaimer: NOT professional advice
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.