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Monero

#Monero Crashes After Spinning Tops Formation, Resistance At $16Past Performance of Monero Monero is under pressure, dropping five percent in the last trading day. From the daily chart, XMR is reacting strongly from last week’s highs at around $165. After a spinning tops formation, the coin retraced yesterday, printing a bearish engulfing pattern, signaling weakness. Based on this, there could be a confirmation today, heaping more pressure on the coin. #Monero Technical Analysis After a spinning tops formation, XMR is down at spot rates. It looks likely for bears to flow back, pushing the coin deeper in red. Therefore, since yesterday’s bar was bearish and engulfing, traders might look for entries on every attempt higher towards $165. The immediate target would be $145 and later March lows at $130 if bears press on. On a more optimistic outlook, the trend will resume should prices break above $165, reversing recent losses with expanding participation levels. In that case, XMR may float to January highs at around $180. Past Performance of #XMR Asset prices are under pressure across the board, and XMR is no exception. From the daily chart, buyers will flow back if there is a breakout above the spinning tops of the end of last week with rising volumes. If not, bears of yesterday may force the coin lower this week. Resistance level to watch out for: $165 Support level to watch out for: $145 Disclaimer: Opinions expressed are not investment advice. Do your research.
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by Bitcoin_Analyzer
✳️ The Monero/Bitcoin Inverse Relation Signal (Fail Trade)✳️ The Monero/Bitcoin Inverse Relation Signal (Fail Trade) Monero has been moving inverse to Bitcoin, the XMRBTC pair. ✔️ From 11-Jan. '23 to 21-Mar. '23 XMRBTC had a strong correction. ✔️ From 11-Jan. '23 to 21-Mar. '23 BTCUSD produced a strong impulse. ✔️ Now XRMBTC prepares to move up. ✔️ Now BTCUSD prepares to move down. ✔️ Monero was undergoing a correction; ✔️ Bitcoin will undergo a correction. That's the inverse relation. We are likely to see XMRBTC do an upward ABC and then above 5-down wave. And thus we are likely to see Bitcoin do an ABC down then the final fifth up-wave of a higher degree or a 5-up wave of the same degree we are looking at here. I'll confess... I called my XMRBTC spot trade too early but nothing a short wait can't fix. Note: The timing might be a bit off and the exact targets, the wave count is only for reference and illustration. In a nutshell: XMRBTC is undergoing a Zig-zag correction and is now entering the B wave (5-3-5 | A-B-C). Namaste.
by AlanSantana
3
XMR: Channel Down Breakout!Monero (XMR) technical analysis: Trade setup : Bullish breakout from Channel Down pattern as well as above 200-day moving average and $150 resistance could be a sign of trend reversal with upside potential to $160 or higher. Trend : Downtrend on Short- and Medium-Term basis and Uptrend on Long-Term basis. Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral). Support and Resistance : Nearest Support Zone is $140, then $120. The nearest Resistance Zone is $150, then $160, and $190.
XLong
by altFINS
#Monero Upsides Limited By The 20-day MA and $155Past Performance of Monero Like Bitcoin, the selloff in Monero was steep. However, the coin is higher at spot rates but capped below the dynamic resistance line, the middle BB. From the XMR candlestick arrangement, the primary support is at $130, which is the 78.6% Fibonacci retracement level. #Monero Technical Analysis The path of least resistance, at least in the short term, is bearish. Even so, with XMR up roughly 6% over the weekend, the trend could quickly shift. Notice that prices are rebounding from a critical support level. If there is confirmation today and prices edge higher, building on March 12 gains, XMR may spring towards $155 and later $170. This preview is only valid as long as there are rising trading volumes accompanying the leg up. Meanwhile, any drop below $130 at the back of relatively high trading volumes will invalidate the bullish preview, setting the base for a selloff towards $120. What to Expect From #XMR? Technically, Monero is bullish. But, how prices react in the short term depends on whether XMR stays above $130. If there is a breakout above $155 and the middle BB, there might be a reprieve, forcing the coin toward Q1 2023 highs. Resistance level to watch out for: $155 Support level to watch out for: $130 Disclaimer: Opinions expressed are not investment advice. Do your research.
XLong
by Bitcoin_Analyzer
#Monero Drops from Key Reaction Line, XMR May Retest $140Past Performance of Monero Monero might be up roughly four percent from last week's lows but has found resistance at the middle BB. The bear bar of March 7 reversed losses posted on Monday, slowing down bulls. Even so, the primary trend, reading from the performance from the end of January, is bearish. XMR has support at around $140. #Monero Technical Analysis Monero prices might be higher at spot rates, but the pump has relatively low trading volumes. Besides, the failure of buyers to push prices above the middle BB swings price action to the bearish territory. For over a month, XMR has failed to close above the middle BB, the immediate resistance, meaning sellers are in control. Even so, traders can wait to see how today's close will be. If XMR is lower, it may drop to primary support at around $140. Then, the odds of even more losses will be amplified, allowing traders to ramp up, targeting $125 and $115, respectively. What to Expect from #XMR? Traders are upbeat, but Monero bulls appear weak. Any surge above $155 might trigger demand, lifting the coin towards January highs in a buy trend continuation. As it is, traders can wait for a more precise definition with a move above or below the immediate reaction levels shaping upcoming price action. Resistance level to watch out for: $155 Support level to watch out for: $140 Disclaimer: Opinions expressed are not investment advice. Do your research.
XShort
by Bitcoin_Analyzer
#Monero Sellers in Charge as Upsides Capped at $170Past Performance of Monero The uptrend might be clear, but Monero bulls are struggling. Prices are higher in the short term, but the trend is bearish relative to January highs. In the short term, XMR is within the February 9 bear candlestick, which is bearish from an effort versus result perspective. Presently, the resistance is at around $170. #Monero Technical Analysis Monero prices are bullish from a top-down preview. Even so, the failure of bulls to clear $170 and rewind losses of February 9 is a concern. For over 11 days, XMR has been moving inside the bear bar, placing sellers in control. Besides the low volumes, the past few bars have been with long upper wicks suggesting rejection of higher prices. Therefore, considering this formation, traders can wait for a clear trend above $170 or below February lows at $150 before committing. The breakout should also be with rising volumes to indicate participation. Gains above $170 may lift XMR towards $185. What to Expect from #XMR? Buyers are upbeat, but the short-term trend swings to favor sellers. Resistance is at $170, and the middle BB. On the lower end, support lies at $150. If lost, XMR may dump towards $140 or worse. Resistance level to watch out for: $170 Support level to watch out for: $140 Disclaimer: Opinions expressed are not investment advice. Do your research.
XShort
by Bitcoin_Analyzer