Long
Monero On Track For ATH
Weekly
Highest timeframe showing uptrend since June 6th 2016. Major support @ 0.02277000, price recently broke out of its ascending triangle found resistance @ 0.03000000. Stochastic RSI showing momentum is bullish.
Daily
Looking over at our trend timeframe we see price formed a double bottom and broke out of it’s consolidation zone 0.02336700—0.02600000. Price found resistance @ 0.0320000 and has returned to our breakout support. Possible Higher Low forming @ 0.02600000. Stochastic RSI showing bears are losing momentum.
4Hour
Shifting over to our pattern timeframe we see price is in a minor downtrend. Waiting for a break and close above 0.02720000 on the 4hour before taking an entry. Smaller timeframe showing possible double bottom forming @ 0.02660000
Conclusion
Wait for a break and close above 0.02720000 before taking a buy.
Related publications
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.