XMR/USD is overbought.
Monero is in a bearish channel as it has lower lows and lower highs one after another.
It bounced upwards from $77 and reached a high of $130. So one could make 80% profit right there.
In my opinion it has not reached the bottom just yet. It has broken through that Falling Wedge formation, which was bullish from the beggining, but that breakout was not a major one.
I'm anticipating it to go as low as $60 (coz bearish market and 88% correction is accurate in over 95% of coins).
It probably will have a bounce at $82 mark (nice support line), then it will go lower.
As it has a quite high RSI (crossed 70) it probably starting its downfall.
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DISCLAIMER
I’m not a certified financial advisor nor a certified financial analyst. The contents posted by me are for informational and entertainment purposes only. Don't follow any analysis blindly, and make your own decisions. Always plan your trades and play with stop-loss.
If you like my charts, follow me on Twitter or Steemit.
It bounced upwards from $77 and reached a high of $130. So one could make 80% profit right there.
In my opinion it has not reached the bottom just yet. It has broken through that Falling Wedge formation, which was bullish from the beggining, but that breakout was not a major one.
I'm anticipating it to go as low as $60 (coz bearish market and 88% correction is accurate in over 95% of coins).
It probably will have a bounce at $82 mark (nice support line), then it will go lower.
As it has a quite high RSI (crossed 70) it probably starting its downfall.
-----------------
DISCLAIMER
I’m not a certified financial advisor nor a certified financial analyst. The contents posted by me are for informational and entertainment purposes only. Don't follow any analysis blindly, and make your own decisions. Always plan your trades and play with stop-loss.
If you like my charts, follow me on Twitter or Steemit.
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.