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XMRUSD trade ideas

XMR Potential bullish breakout incoming?Monero (XMR/USD) presents a technical setup that could hint at a bullish breakout. It's important to remember that markets are inherently uncontrollable, there are no certainties, and all we can do is evaluate patterns and indicators to identify potential opportunities. Here’s a breakdown of the current setup and how to approach it with a balanced perspective: • Higher lows and an Uptrend Since Early August: The chart shows a pattern of higher lows, often a sign of bullish momentum building up. Since early August, XMR/USD has respected an ascending trendline, reflecting steady buying interest. However, markets can change direction quickly, and it’s crucial to keep an open mind and remain flexible as new data comes in. • Symmetrical Triangle Formation Indicates Potential for a Breakout: XMR/USD is consolidating within a symmetrical triangle pattern—a formation that suggests a potential breakout could be imminent. The price action is becoming increasingly tight, indicating that a significant move might occur soon. A breakout above the upper trendline around $172-$173 could signal a bullish run, while a breakdown below the lower trendline could indicate a bearish shift. It’s essential to be prepared for either scenario and respond accordingly. • Relative Strength from XMR/BTC: The relative strength of XMR against BTC (XMR/BTC) provides additional context to the bullish case. The pair has maintained stability, suggesting potential underlying strength in XMR. However, it’s important to remember that correlations can change, and broader market trends must also be considered when evaluating such setups. • Managing Risk: Key Levels for Stop Loss and Take Profit: Risk management is crucial in any trading strategy. In this setup, a stop loss around $167, just below a key support level and the lower trendline of the triangle, is how im managing this trade to limit potential losses if the market moves against the trade. The take profit level is set at $182, targeting a resistance area with about 7.16% potential upside from the current price, providing a favorable risk-reward ratio of 7.6:1. It’s vital to have a firm stop loss in place—traders should never move their stop loss further away to “give the trade more room.” This can lead to increased risk and significant losses. • Volume and Momentum Indicators: Volume has been decreasing as the price consolidates within the triangle, a typical pattern before a breakout. A surge in volume will be needed to confirm the breakout direction. Momentum indicators, such as RSI and MACD, are showing signs of potential bullish divergence. However, these signals should be treated cautiously and used alongside other indicators to make a comprehensive decision. Conclusion: XMR/USD is presenting a potential opportunity for a bullish breakout, but as with any trade, nothing is guaranteed. Managing your portfolio means assessing probabilities, setting firm stop losses, and staying adaptable to changing market conditions. Always approach trades with a strategy that considers both the potential reward and the risk involved. Stay disciplined, and be prepared to adjust your plans as the market reveals new information. Remember, successful trading is about making calculated decisions based on risk management, not chasing certainty.
KRAKEN:XMRUSDLong
by Troy_Brave
Monero (XMR) Bullish Setup?Some analysis on the Monero chart - Firstly the obvious (orange line) downsloping trendline going back to the May 2021 highs. This was broken in June 2023 with a retest in August '23 and another retest in Feb 2024 after the Binance delisting. This level became a double-bottom, forming a nice "W" bottom structure. The next significant level is XMR's current level at around $170-$175, level going way back to 2020. XMR has used this as support and resistance over the years, and has recently been coming up against it again. XMR has put in another, smaller "W" structure, which can be viewed as a form of cup-and-handle also. A measured move on the breakout of this level would be around $300 as shown. XMR has diverged quite a lot from BTC's price and makes it's own moves, so needs to be viewed as mostly independent.
CRYPTO:XMRUSD
by ronzo777
1
XMR/USDT Approaches $200 Resistance with Bullish Momentum Technical Analysis: 1. Bullish Structure with Price Above EMAs: The price is currently above the EMAs, showing strong bullish momentum. The EMAs are trending upwards, acting as dynamic support, and reinforcing the bullish structure. A potential break and retest of the $200 resistance level is key. If this level is successfully broken, the bullish momentum is likely to accelerate, pushing the price toward higher targets. 2. Key Levels to Watch: $200 Resistance: The price is approaching the $200 resistance level, a critical zone for bulls. A clean break above this level would confirm further bullish momentum. $470 Target: If the $200 level is broken and holds as support, the next major target would be the $470 resistance level, representing a significant long-term bullish objective. 3. Momentum and Bullish Crossover: Momentum indicators show a previous bearish momentum break, and the current momentum is above the zero line, signaling that the bulls are taking control of the market. There is potential for a bullish crossover forming near the zero level, further confirming the bullish outlook and supporting a continuation of the upward move. 4. Performance Comparison (1W to 12M): The performance of XMR/USDT compared to BTC/USDT and ETH/USDT over various timeframes highlights its relative strength: 1W Performance: XMR/USDT outperforms both BTC/USDT and ETH/USDT, showing gains of +4.95%, compared to Bitcoin's -3.46% and Ethereum's -4.05%. 1M Performance: XMR/USDT shows +16.34%, significantly stronger than BTC/USDT at +6.10% and ETH/USDT at +0.24%, indicating short-term strength in Monero’s price action. 3M to 6M Performance: Over these mid-term periods, Monero maintains a positive performance of +3.86% and +20.09%, respectively. In contrast, Bitcoin and Ethereum show negative performance, especially in the 6-month range where BTC/USDT is down -10.17% and ETH/USDT is down -31.85%. 12M Performance: XMR/USDT maintains a solid gain of +23.19% over the past year, outperforming both BTC/USDT (+122.28%) and ETH/USDT (+48.46%) over the long term, indicating that Monero has held up well despite broader market volatility. 5. Potential Scenarios: Bullish Breakout: A successful break above $200 would lead to increased bullish momentum, targeting $470 as the next major level. Consolidation: If the price stalls at the $200 resistance, consolidation could occur. As long as the price stays above the EMAs, this consolidation phase could present opportunities to enter long positions. 6. Conclusion: XMR/USDT is currently in a bullish structure, supported by the performance comparison with BTC/USDT and ETH/USDT across multiple timeframes. A break above $200 would confirm the bullish outlook, with a target of $470 as the next major resistance. Traders should watch for a potential breakout at $200 or a consolidation phase to find optimal entries, with strong support from the EMAs and momentum indicators. What’s your strategy for trading Monero? Share your insights and let’s explore different trading approaches in the comments below! _________________________________________________________________ The information and publications within the 3Commas TradingView account are not meant to be and do not constitute financial, investment, trading, or other types of advice or recommendations supplied or endorsed by 3Commas and any of the parties acting on behalf of 3Commas, including its employees, contractors, ambassadors, etc.
CRYPTO:XMRUSDLong
by 3Commas
XMRUSD Next break above the 1W MA200 starts the parabolic rally.Monero (XMRUSD) has been consolidating within the 1W MA50 (blue trend-line) and the 1W MA200 (orange trend-line) for the past 2 months. This is at the top of the Accumulation Phase that has been containing the price action since the June 2022 Bear Cycle bottom. Structurally, it appears that we could be in a similar consolidation as August - September 2020. That was the consolidation the led to the Cycle's Parabolic Rally once the 1W MA200 broke. As a result, we expect the next 1W candle close above the 1W MA200 to be the bullish break-out signal that might start the new Parabolic Rally. Our long-term Target is 522.00 (the All Time High), even though technically the price might extend a bit higher on the 3.0 Fibonacci extension. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:XMRUSDLong
by TradingShot
Monero back in "Fair Value"Of all cryptocurrencies I see Monero KRAKEN:XMRUSD differently as a good "store of value" which is private. That makes me a little looser with my trading guidelines for other assets. Monero has also proven difficult to trade in recent years... it has had some volatile swings but overall has broadly kept its value. The recent cryptocurrency downtrend, led by Bitcoin, has finally caused the otherwise resilient Monero to break back into the 140 range. 140 on Monero for the last several years I have seen as "fair value" to accumulate. This is also the 50% Retracement of the recent trend and the Volume Profile Point of Control.
KRAKEN:XMRUSDLong
by norok
1
MONERO: $161 | Rule #1 a heads up for when to hop on and hop off the crypto cyclical bull bear flat markets we have the pre halving PUMP the never ending dump and the post halving insatiable madness 12 to 24 day lead time forward price action meaning when BTC begins to PUMP you get validation 12 to 24 days later you miss out 15% to 35% in the alts you will miss out 150% to 300% -- same when BTC peaks you get confirmation 12 to 24 days after the fact that game over for reset back to when the banker started the cycle good lucks and remember Rule #1 "we dont talk about MONERO" keep safe fellas
KRAKEN:XMRUSD
by senyor
BEARISH! $XMR Monero CryptoCurrency Monero (XMRUSD) Analysis: Weekly Timeframe: Monero is currently experiencing a downtrend, indicating a lack of demand in the market. The sustained downtrend on the weekly timeframe raises concerns about the overall strength of Monero in the current market environment. Daily Timeframe: On the daily chart, Monero has recently bounced off a significant support level around $122.999. However, Monero is currently facing resistance at around $150.985, indicating that buyers are struggling to push the price higher. Overall Market Context: Despite being in a broader bull market, Monero’s weakness is something that is noteworthy and should be paid close attention. While other cryptocurrencies may be performing well, Monero’s lackluster performance suggests underlying issues specific to its market dynamics.
CRYPTO:XMRUSDShort
by ImmaculateTony
Monero (XMR): Clear Path for Strong Surges AheadMonero (XMR): CRYPTO:XMRUSD Monero (XMR) , like many other cryptocurrencies, experienced significant sell-offs but hasn't recovered as robustly as others. This lagging behavior presents an opportunity to capitalize on potential faster and more favorable entry points. Currently, it is believed that Monero might still be at the end of a Wave 2, which could be advantageous as it allows for potential entry points into the market. Underlyingly, we are in a subordinate Wave 3, expected to reach between $250 and a maximum of $431. Zooming in, after completing Wave 2 at $101, we've developed Waves (i) and (ii), and are now attempting to complete Wave (iii). This wave is anticipated to reach at least $164, extending up to $233. Following this, we aim to seek initial entries for a possible Wave (iv), aiming to reach at least $250.
CRYPTO:XMRUSDLong
by freeguy_by_wmc