✴️ Monero Activating Bullish Indicators (Long-Term Targets)
We have two major waves here, 2017 and 2021.
Let's look at the main market pattern through Monero (XMRUSD)... Up and down, as simple as this.
We have four indicators in the form of moving averages. EMA10, EMA21, EMA50 and EMA100.
When a pair trades below these indicators or is trending downwards against them, the bears have the upper hand. Examples are May 2021 and December 2017.
When a pair trades above these indicators, the bulls have the upper hand.
We can see Monero moving and closing last week above EMA10/21 and EMA50, with EMA50 being a very strong one.
This week Monero is barely trading above EMA100, activating long-term bullish potential.
With the orange lines we have a consolidation pattern, clearly broken and we can also see higher lows since June 2022 coupled with a very strong RSI.
These signals are saying that Monero is ready to grow long-term. Confirmation is still needed on EMA100 and one last final jump with big volume but that would be "additional confirmation"... It is already clear what is going on.
1) The easy target can be $255 with $356 mid-term.
2) Long-term we can see $426 and $515 with $600 as a new All-Time High and even higher depending on the market conditions more than a year into the future, which I believe will be great.
These are just projections, things can change.
Regardless of the short-term moves and swings, growth is expected to happen in the long run.
Think long-term. Buy and hold. That's the best possible advice at this point.
Namaste.
Let's look at the main market pattern through Monero (XMRUSD)... Up and down, as simple as this.
We have four indicators in the form of moving averages. EMA10, EMA21, EMA50 and EMA100.
When a pair trades below these indicators or is trending downwards against them, the bears have the upper hand. Examples are May 2021 and December 2017.
When a pair trades above these indicators, the bulls have the upper hand.
We can see Monero moving and closing last week above EMA10/21 and EMA50, with EMA50 being a very strong one.
This week Monero is barely trading above EMA100, activating long-term bullish potential.
With the orange lines we have a consolidation pattern, clearly broken and we can also see higher lows since June 2022 coupled with a very strong RSI.
These signals are saying that Monero is ready to grow long-term. Confirmation is still needed on EMA100 and one last final jump with big volume but that would be "additional confirmation"... It is already clear what is going on.
1) The easy target can be $255 with $356 mid-term.
2) Long-term we can see $426 and $515 with $600 as a new All-Time High and even higher depending on the market conditions more than a year into the future, which I believe will be great.
These are just projections, things can change.
Regardless of the short-term moves and swings, growth is expected to happen in the long run.
Think long-term. Buy and hold. That's the best possible advice at this point.
Namaste.
🔝 Daily Cryptocurrency Technical Analysis
followalan.com
🔥 PREMIUM Trade-Numbers (6-In-1 Offer Now Live!)
lamatrades.com (Since 2017)
🚨 Free PREMIUM Trade-Numbers
alansantanatrades.com
followalan.com
🔥 PREMIUM Trade-Numbers (6-In-1 Offer Now Live!)
lamatrades.com (Since 2017)
🚨 Free PREMIUM Trade-Numbers
alansantanatrades.com
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.