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#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 MasterAnanda
3
Cryptocurrency: Should You Invest Or Speculate?Cryptocurrency has been around for over a decade now, but there are still many first-time investors who are hesitant to explore the world of cryptocurrency alternatives. Most often, they focus on two main ways to profit from trading: trading and mining. In this article, we will discuss why mining has become almost impossible for individual investors and why trading may be a more viable option. The Main Cryptocurrencies: Bitcoin and Ethereum Bitcoin and Ethereum are the most popular cryptocurrencies in the market today. While many people see the potential for profit in mining these cryptocurrencies, the reality is that mining pools have become almost impossible to compete with. These "powerful hammers" have shattered the dreams of many individuals who were hoping to profit from cryptocurrency mining. While it is still possible to join one of these mining pools, it is a costly operation that requires purchasing the most powerful equipment. The payback of such an investment is also questionable. As a result, if you're looking to profit from operations with Bitcoin or Ethereum, it may make more sense to prefer trading rather than mining. Trader or Investor Once you have decided to pursue trading, the next step is to choose the direction and speed of movement. Understanding whether you are a trader or an investor will be the determining factor in this decision. An investor seeks to profit from effectively investing their capital in financial assets. Typically, investors make a single, but voluminous transaction, buying an asset in the hope of its long-term growth. Investors take responsibility for the possible consequences of this operation and take on all possible risks. They don't expect a quick return on the transaction, but they usually get a substantial benefit in the end. A trader, on the other hand, is a professional with special knowledge and skills for effective management of both own and investment capital. Traders aim for short-term profit on sharp price fluctuations. Traders' positions usually last from a few minutes during periods of high volatility, to a few days when the price shows signs of strong growth followed by profit-taking and the opening of trade in the opposite direction. Trading Is a Profession It should be understood that when choosing the path of a trader, you must devote quite a bit of time to education and developing your strategy as well as your trading style. Trading requires deep knowledge of the material and an active presence at the monitor with constant control of the market, which takes quite a lot of time. To become a successful trader, you need to have a deep understanding of technical analysis, which is perfectly suited to Bitcoin and Ethereum charts. The market can be volatile and unpredictable, so it's important to develop a strategy that suits your trading style and risk tolerance. Investing - For Those Who Want Additional Income Investing in cryptocurrency is a more hands-off approach than trading. It still requires an understanding of technical analysis but takes minimal time, allowing you to live your life quietly and engage in your main activity. Conclusion In conclusion, when it comes to profiting from cryptocurrency, it's essential to consider both trading and investing options. While mining may seem like an attractive option, it requires significant investment in equipment and resources, making trading and investing a more viable choice for most people. Whether you choose to be a trader or an investor, it's crucial to understand the fundamental differences between the two and devote time to developing a strategy and trading style. With the right knowledge and approach, cryptocurrency can be an excellent tool for generating additional income and building wealth.
COINBASE:BTCUSDLong
by FOREXN1
3
XMRUSDT - not an usual BITCOIN FollowerXMR is a privacy coin and has its own whales who are not really interested in what happens to BITCOIN as it has it own uses. Recently, its MACD came above the avg line and looking to go higher to make a bearish cross later in the year... we do not know how long can it go. But we have a near (highly probable) target (200$ - 205$) in our sight. Entry can be taken from 160$ - 175$ SL @ 155$ let's see what happens in the future and in days to come. Good luck.
Long
by crypto_gambler_
1
XMR/USDT 1DAY UPDATE BY CRYPTO SANDERS !Hello, welcome to this XMR/USDT 1DAY chart update by CRYPTOSANDERS. I have tried to bring the best possible outcome to this chart. Show some support, hit the like button, and follow and comment in the comment section. this motivates me to bring this kind of chart analysis on a regular basis. CHART ANALYSIS:-Monero (XMR) has been one of today’s biggest gainers, with prices climbing to a four-week high. Following a low of $152.16 on Thursday, XMR/USD raced to a peak of $163.10 earlier in the day. As a result of the move, XMR climbed to its strongest point since February 20, when the token reached a peak of $168.70. Looking at the chart, the move came as monero rose beyond a key resistance level at the $155.00 mark. Earlier momentum has somewhat eased, which comes as the 14-day relative strength index (RSI) collided with a ceiling at 58.00 At the time of writing, the index is tracking at 58.84, with XMR marginally lower than its earlier high. It is now trading at $160.65. This is not a piece of financial advice. Hit the like button if you like it and share your charts in the comments section. Thank you
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by CryptoSanders9563
XMR/USDT - Monero: Resistance_Breakout_Confirmation◳◱ A Resistance Breakout and Confirmation has been detected on the $XMR / $USDT chart. The price has broken above a key resistance level and has been confirmed by a strong candle, indicating a potential bullish trend. The next resistance key levels are located at 160.5 | 167.8 | 184.2, and the major support zones can be found at 144.1 | 135 | 118.6. Consider entering a trade at the current price zone of 160.1 and targeting higher levels. ◰◲ General info : ▣ Name: Monero ▣ Rank: 25 ▣ Exchanges: Binance, Kucoin, Bybit, Huobipro, Gateio, Poloniex ▣ Category/Sector: Payments - Currencies ▣ Overview: Aimed at privacy-preservation and fungibility, Monero is a Bytecoin code fork providing anonymous value transfer through ring signatures, stealth addresses, confidential transactions, and bulletproofs. Monero offers anonymity by default in contrast to the optional privacy preserving functionalities of its peers. In pursuit of decentralization Monero continually changes its proof-of-work algorithm in order to prevent ASICs from dominating and centralizing the mining process. ◰◲ Technical Metrics : ▣ Mrkt Price: 160.1 ₮ ▣ 24HVol: 21,226,745.269 ₮ ▣ 24H Chng: 4.777% ▣ 7-Days Chng: 3.18% ▣ 1-Month Chng: 0.75% ▣ 3-Months Chng: 10.72% ◲◰ Pivot Points - Levels : ◥ Resistance: 160.5 | 167.8 | 184.2 ◢ Support: 144.1 | 135 | 118.6 ◱◳ Indicators recommendation : ▣ Oscillators: NEUTRAL ▣ Moving Averages: STRONG_BUY ◰◲ Technical Indicators Summary : BUY ◲◰ Sharpe Ratios : ▣ Last 30D: -0.70 ▣ Last 90D: 0.75 ▣ Last 1-Y: 0.12 ▣ Last 3-Y: 0.83 ◲◰ Volatility : ▣ Last 30D: 0.53 ▣ Last 90D: 0.51 ▣ Last 1-Y: 0.78 ▣ Last 3-Y: 0.95 ◳◰ Market Sentiment Index : ▣ News sentiment score is N/A ▣ Twitter sentiment score is 0.55 - Bullish ▣ Reddit sentiment score is 0.63 - Bullish ▣ In-depth XMRUSDT technical analysis on Tradingview TA page ▣ What do you think of this analysis? Share your insights and let's discuss in the comments below. Your like, follow and support would be greatly appreciated! ◲ Disclaimer Please note that the information and publications provided are for informational purposes only and should not be construed as financial, investment, trading, or any other type of advice or recommendation. We encourage you to conduct your own research and consult with a qualified professional before making any financial decisions. The use of the information provided is solely at your own risk. ▣ Welcome to the home of charting big: TradingView Benefit from a ton of financial analysis features, instruments and data. Have a look around, and if you do choose to go with an upgraded plan, you'll get up to $30. Discover it here - affiliate link -
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by Crypto2AF
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
$XMR/#USDT [#Monero]: Resistance_Breakout_Confirmation◳◱ A Resistance Breakout and Confirmation has been detected on the $XMR / $USDT chart. The price has broken above a key resistance level and has been confirmed by a strong candle, indicating a potential bullish trend. The next resistance key levels are located at 159.7 | 169.6 | 193.3, and the major support zones can be found at 136 | 122.2 | 98.5. Consider entering a trade at the current price zone of 148.6 and targeting higher levels. ◰◲ General info : ▣ Name: Monero ▣ Rank: 26 ▣ Exchanges: Binance, Kucoin, Bybit, Huobipro, Gateio, Poloniex ▣ Category/Sector: Payments - Currencies ▣ Overview: Aimed at privacy-preservation and fungibility, Monero is a Bytecoin code fork providing anonymous value transfer through ring signatures, stealth addresses, confidential transactions, and bulletproofs. Monero offers anonymity by default in contrast to the optional privacy preserving functionalities of its peers. In pursuit of decentralization Monero continually changes its proof-of-work algorithm in order to prevent ASICs from dominating and centralizing the mining process. ◰◲ Technical Metrics : ▣ Mrkt Price: 148.6 ₮ ▣ 24HVol: 12,468,463.506 ₮ ▣ 24H Chng: 1.157% ▣ 7-Days Chng: 4.87% ▣ 1-Month Chng: -5.88% ▣ 3-Months Chng: 5.06% ◲◰ Pivot Points - Levels : ◥ Resistance: 159.7 | 169.6 | 193.3 ◢ Support: 136 | 122.2 | 98.5 ◱◳ Indicators recommendation : ▣ Oscillators: SELL ▣ Moving Averages: STRONG_BUY ◰◲ Technical Indicators Summary : BUY ◲◰ Sharpe Ratios : ▣ Last 30D: -0.97 ▣ Last 90D: 0.34 ▣ Last 1-Y: 0.13 ▣ Last 3-Y: 0.84 ◲◰ Volatility : ▣ Last 30D: 0.55 ▣ Last 90D: 0.50 ▣ Last 1-Y: 0.78 ▣ Last 3-Y: 0.96 ◳◰ Market Sentiment Index : ▣ News sentiment score is N/A ▣ Twitter sentiment score is 0.55 - Bullish ▣ Reddit sentiment score is 0.79 - V. Bullish ▣ In-depth XMRUSDT technical analysis on Tradingview TA page ▣ What do you think of this analysis? Share your insights and let's discuss in the comments below. Your like, follow and support would be greatly appreciated! ◲ Disclaimer Please note that the information and publications provided are for informational purposes only and should not be construed as financial, investment, trading, or any other type of advice or recommendation. We encourage you to conduct your own research and consult with a qualified professional before making any financial decisions. The use of the information provided is solely at your own risk. ▣ Welcome to the home of charting big: TradingView Benefit from a ton of financial analysis features, instruments and data. Have a look around, and if you do choose to go with an upgraded plan, you'll get up to $30. Discover it here - affiliate link -
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by Crypto2AF
$XMR/#BTC [#Monero]: Resistance_Breakout◳◱ A Resistance Breakout has been identified on the $XMR / $BTC chart. The price has broken above a key resistance level, indicating a potential bullish trend. The next resistance key levels are located at 0.006806 | 0.007185 | 0.007824, and the major support zones can be found at 0.006167 | 0.005907 | 0.005268. Consider entering at the current price zone of 0.006648 and targeting higher levels. ◰◲ General info : ▣ Name: Monero ▣ Rank: 28 ▣ Category/Sector: Payments - Currencies ▣ Overview: Aimed at privacy-preservation and fungibility, Monero is a Bytecoin code fork providing anonymous value transfer through ring signatures, stealth addresses, confidential transactions, and bulletproofs. Monero offers anonymity by default in contrast to the optional privacy preserving functionalities of its peers. In pursuit of decentralization Monero continually changes its proof-of-work algorithm in order to prevent ASICs from dominating and centralizing the mining process. ◰◲ Technical Metrics : ▣ Mrkt Price: 0.006648 ₿ ▣ 24HVol: 121.750 ₿ ▣ 24H Chng: 1.218% ▣ 7-Days Chng: -1.81% ▣ 1-Month Chng: -13.50% ▣ 3-Months Chng: 2.42% ◲◰ Pivot Points - Levels : ◥ Resistance: 0.006806 | 0.007185 | 0.007824 ◢ Support: 0.006167 | 0.005907 | 0.005268 ◱◳ Indicators recommendation : ▣ Oscillators: BUY ▣ Moving Averages: STRONG_BUY ◰◲ Technical Indicators Summary : STRONG_BUY ◲◰ Sharpe Ratios : ▣ Last 30D: -4.59 ▣ Last 90D: 0.22 ▣ Last 1-Y: 0.22 ▣ Last 3-Y: 0.63 ◲◰ Volatility : ▣ Last 30D: 0.51 ▣ Last 90D: 0.45 ▣ Last 1-Y: 0.84 ▣ Last 3-Y: 0.99 ◳◰ Market Sentiment Index : ▣ News sentiment score is N/A ▣ Twitter sentiment score is 0.56 - Bullish ▣ Reddit sentiment score is 0.77 - Very Bullish ▣ In-depth XMRBTC technical analysis on Tradingview TA page ▣ What do you think of this analysis? Share your insights and let's discuss in the comments below. Your like, follow and support would be greatly appreciated! ◲ Disclaimer Please note that the information and publications provided are for informational purposes only and should not be construed as financial, investment, trading, or any other type of advice or recommendation. We encourage you to conduct your own research and consult with a qualified professional before making any financial decisions. The use of the information provided is solely at your own risk. ▣ Welcome to the home of charting big: TradingView Benefit from a ton of financial analysis features, instruments and data. Have a look around, and if you do choose to go with an upgraded plan, you'll get up to $30. Discover it here - affiliate link -
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by Crypto2AF