XMR Analysis of 4y Monero Price Movement and Yearly Expectations
Monero is probably one of the few old cryptocurrencies that has retained its value in monetary terms, as well have the main old-school function of the crypt - anonymity!
Crypto anarchists who value the anonymity of the crypt, buy XMR and hold for years, and such actions allow the price of XMRUSDT to adequately keep on the global chart.
Today we will look at the XMRUSD chart on a 3D timeframe, touching the previous 4 years of trading and try to look into the future for a year)
In December 2017, the maximum value of Monero was established - $478. After that, XMR holders had a difficult 3 years (1 year of decline + 2 years of consolidation at the bottom) + 1 year of growth. And now, after +/-1230 days. At the beginning of May 2021, the price of XMRUSDT was able to renew the maximum, setting it at a new level of $519
But literally, a few days later, it became clear that this was just a false breakout of an important level. And already on May 19, when the entire cryptocurrency market was fall, it became clearly visible on the XMRUSD chart at what price XMR investors are ready to buy this asset in addition.
The mirrored level of $115-125 has shown its importance 4 times over the past 4 years. In the fall of May, it was from there that an aggressive buyout took place. The drop of Monero was -75%, which is higher than the average in the crypto market during this period.
However, there is also a positive factor. Today, when the price of BTCUSD is again dropping towards the critical 30K$ and most of the alts are surpassing BTC in the rate of decline, and some are even preparing to renew the minimum of the last month, the price of XMRUSDT is being held with dignity, long-term investors are not selling yet.
What we saw on the chart makes us think and assume that the price of XMRUSD will most likely not fall below the critical zone of $152-162. In this case, a global pattern can be formed on the chart to continue the "Cup with a handle" trend. The upper target of such a figure, after fixing above $500, will be around $1800 per XMR.
It is also always worth keeping in mind an alternative scenario in case the price of BTCUSDT will drop below $28,000 in the near future and continue to move down, then altcoins will not be able to resist this trend.
In this case, the global zone for buying Monero for the long-term long will be at the range of $50-80
Write in the comments which scenario of price movement you prefer, and what developments you expect.
_______________________________
Since 2016, we have been analyzing and trading the cryptocurrency market.
We transform our knowledge, trading moods and experience into ideas. Each "like under the idea" boosts the level of our happiness by 0.05%. If we help you to be calmer and richer - help us to be happier :)
Crypto anarchists who value the anonymity of the crypt, buy XMR and hold for years, and such actions allow the price of XMRUSDT to adequately keep on the global chart.
Today we will look at the XMRUSD chart on a 3D timeframe, touching the previous 4 years of trading and try to look into the future for a year)
In December 2017, the maximum value of Monero was established - $478. After that, XMR holders had a difficult 3 years (1 year of decline + 2 years of consolidation at the bottom) + 1 year of growth. And now, after +/-1230 days. At the beginning of May 2021, the price of XMRUSDT was able to renew the maximum, setting it at a new level of $519
But literally, a few days later, it became clear that this was just a false breakout of an important level. And already on May 19, when the entire cryptocurrency market was fall, it became clearly visible on the XMRUSD chart at what price XMR investors are ready to buy this asset in addition.
The mirrored level of $115-125 has shown its importance 4 times over the past 4 years. In the fall of May, it was from there that an aggressive buyout took place. The drop of Monero was -75%, which is higher than the average in the crypto market during this period.
However, there is also a positive factor. Today, when the price of BTCUSD is again dropping towards the critical 30K$ and most of the alts are surpassing BTC in the rate of decline, and some are even preparing to renew the minimum of the last month, the price of XMRUSDT is being held with dignity, long-term investors are not selling yet.
What we saw on the chart makes us think and assume that the price of XMRUSD will most likely not fall below the critical zone of $152-162. In this case, a global pattern can be formed on the chart to continue the "Cup with a handle" trend. The upper target of such a figure, after fixing above $500, will be around $1800 per XMR.
It is also always worth keeping in mind an alternative scenario in case the price of BTCUSDT will drop below $28,000 in the near future and continue to move down, then altcoins will not be able to resist this trend.
In this case, the global zone for buying Monero for the long-term long will be at the range of $50-80
Write in the comments which scenario of price movement you prefer, and what developments you expect.
_______________________________
Since 2016, we have been analyzing and trading the cryptocurrency market.
We transform our knowledge, trading moods and experience into ideas. Each "like under the idea" boosts the level of our happiness by 0.05%. If we help you to be calmer and richer - help us to be happier :)
🎁 -20% on ALL trading fees OKX
okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
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.