🔥 XMR Massive Falling Wedge: Consolidation ExpectedIn my previous XMR analyses I've been talking about a huge bearish channel it which this token has been trading in. After a failed break out, things started looking bearish again.
And here we are. Almost 6 weeks further, and still going down. On a positive note, XMR has formed a falling wedge, which is classically a bullish reversal pattern.
In my view, it's likely that XMR will keep trading inside this pattern. A break out will be more likely in the next few weeks. Keep in mind that the direction of XMR's break out will be highly dependent on Bitcoin's trading direction.
XMRUSDT.P trade ideas
XMRUSDTXMRUSDT is in strong down trend and respecting falling channel. And then bulls took the control from 146 region but bears are waiting at resistance of channel at 157 region which is also a 0.5% Fib retracement. So now will the bears continue their game?
XMR Monero Showing Signs Of New UptrendThe 45m chart is passing the 200ma. It's working on getting above, if it can find support above this is bullish for immediate price action.
The 4h chart has a good squeeze indicator and Directional Index is trending positive.
Monero has a good deal of % gain possible before running into previous highs that might be resistance.
This is a High Risk Long, but if XMR starts a run, the daily chart shows great historic upside potential.
$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 165.2 | 179.1 | 203.1, and the major support zones can be found at 141.2 | 131.1 | 107.1. Consider entering a trade at the current price zone of 151 and targeting higher levels.
◰◲ General info :
▣ Name: Monero
▣ Rank: 28
▣ Category/Sector: Payments - Currencies
▣ Overview: Background details for N/A project are currently unavailable.
◰◲ Technical Metrics :
▣ Mrkt Price: 151 ₮
▣ 24HVol: 8,009,270.088 ₮
▣ 24H Chng: 1.274%
▣ 7-Days Chng: -7.10%
▣ 1-Month Chng: -18.44%
▣ 3-Months Chng: 9.44%
◲◰ Pivot Points - Levels :
◥ Resistance: 165.2 | 179.1 | 203.1
◢ Support: 141.2 | 131.1 | 107.1
◱◳ Indicators recommendation :
▣ Oscillators: NEUTRAL
▣ Moving Averages: BUY
◰◲ Technical Indicators Summary : BUY
◲◰ Sharpe Ratios :
▣ Last 30D: -2.79
▣ Last 90D: 1.04
▣ Last 1-Y: 0.39
▣ Last 3-Y: 0.62
◲◰ Volatility :
▣ Last 30D: 0.56
▣ Last 90D: 0.45
▣ Last 1-Y: 0.85
▣ Last 3-Y: 0.99
◳◰ Market Sentiment Index :
▣ News sentiment score is 0.63 - Bullish
▣ Twitter sentiment score is 0.59 - Bullish
▣ Reddit sentiment score is 0.21 - Very Bearish
▣ 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.
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XMR LONGAlways looking to accumulate more XMR, potential set up here looking at HTF double bottom, OVERWATCH divergence and a few other factors... Below we can see the 6hr, awaiting OVERWATCH 6hr trend shift & 4hr MACD trend shift.
XMR long setupXMR as many other coins looks bullish. Good diagonal for is as setup. Waiting for initial impulse.
XMRUSD ❕ support zoneXMR is trading above liquidity in an upward channel within the support zone.
The price has successfully fixed above 50EMA (4H TF).
I believe the asset can continue to rise after fixing above the current area.
#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.
XMRUSDT 6HXRMUSDT 6H
After breaking the bearish channel, XMR has started a bullish channel, where at this point it should go to the upper edge at 171.9 and pull back to 162.2.
Here are the supports and resistances on the 6H:
Main support levels: 162.2 / 154.3
Main Resistance Levels: 171.9 / 179.4
MACD: neutral
RSI: Exhaustion of Buyer Forces
EMAs: Optimists
XMRUSDT is testing the weekly supportXMRUSDT (XMR is, a privacy-focused digital currency
The price of XMRUSDT is currently testing the weekly support level, meaning that it is approaching a key level at which buyers may step in and prevent the price from declining further. This support level acts as a barrier that the price may struggle to penetrate and could be seen as a signal for potential buying opportunities.
However, the market currently requires a higher volume of trading activity in order to confirm a clear direction for the price. A breakout from the current descending channel, or a sustained move above the current resistance level, could signal a change in market sentiment and an opportunity for traders to enter long positions.
According to Plancton's strategies, a successful breakout and retest of the resistance level could provide a suitable entry point for opening a new long position in the XMRUSDT market. As with all trading decisions, it is important to carefully consider all relevant factors and have a clear understanding of the risks involved before entering a trade.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <= 1h structure.
Follow the Shrimp 🦐
XMRUSDT HTF LONG / RANGEXMRUSDT HTF LONG / RANGE. Good range, there was a deviation on the bottom, wait for deviation on the top.
Selling pressure initially broke the floorXMR has seen a sharp decline in price over the past few weeks. Selling pressure initially broke the floor of the short-term ascending channel, and the price fell to the support range of $150-157.
With the accurate reaction to this support range and the increase in demand that was created last day, we see a return to the minor resistance level in the range of $167-169. There is potential for Monero to continue to range during this week and next week.
The trend is still in the range in the daily timeframe, and in the 4-hour timeframe, that is, for the medium term, the trend is downward, and until we have a return above the $170 resistance, this trend will not be upward.
With the upward trend, we can expect the price growth to continue up to the resistance of the $190 and $200 range. In the bearish scenario, if we have selling pressure, the second valid support level is considered in the range of $133-141, from which we can also expect a positive reaction.
XMRUSDT (4H) - Bullish reversalHi Traders
XMRUSDT (4H Timeframe)
Waiting for the upward break of the 163.35 resistance level, which will complete a bullish trend reversal pattern to go LONG. Only the downward break of 153.50 would cancel the bullish scenario.
Trade details
Entry: 163.35
Stop loss: 153.50
Take profit 1: 168.90
Take profit 2: 178.30
Score: 7
Strategy: Bullish reversal
XMR - Standing Strong!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
on WEEKLY: Left Chart
XMR is overall bullish medium-term and now approaching a support zone so we will be looking for buy setups on lower timeframes.
on H4: Right Chart
XMR formed a channel in red but it is not ready to go yet.
🏹 Trigger => for the bulls to take over, we need a momentum candle close above the last major high in gray.
Meanwhile, until the buy is activated, XMR can still trade lower inside the support zone 140 - 150
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
XMRUSDTXMR is heavy, inside a bearish channel and needs to break 158.3 to get out of it. In its favor, it has the MM200 that serves as a magnet, RSI with exhaustion of selling forces as well.
There was an update on the network and many users were afraid that XMR would lose privacy. This may have shaken the Coin.
Here are the supports and resistances in the 4H:
Main support levels: 151.5 / 142.9
Main Resistance Levels: 158.0 / 164.8
MM200: 170.8
RSI: Exhaustion Selling Forces
xmrusdtIt seems to reach the demand zone. If this demand zone is opened, the next demand zone will be reached.
🔥 XMR Bearish Channel Holding: What's Next?In my most recent XMR analysis I talked about the bearish channel that this token was trading in. Back then, XMR was on the verge of breaking out.
As we know now, the break out failed and didn't occur in the end. No trade has been triggered.
For now, XMR can do two things.
- Fall further, potentially even going back to the lower support of the channel. This would be my absolute worst-case scenario, which would coincide with a new low on BTC.
- Minor rejection from the top resistance and another push up in the near future. This would be my most likely scenario.
Targets in blue are the same as last analysis.
Time to Long XMR !!!XMR gng for testing the descending channel at 4hrs... Which is around 163 area
once broken then can hype till 168 and then retest the support again
i expect a 15 uptrend around like till 188$
plz do your own research
Never a fin Adv.
Thank You
XMR may be setting up for next bull marketSee the details on the chart, after we take out the next high, and the rsi stayin above 50, as the previous bull markets, maybe we get another run up, I expect 1k+ later this year. Where to buy though? Depends, need to still get into HH HLs.
#Monero Slips 20% From January highs, XMR Bears Target $140Past Performance of Monero
After encouraging gains from November 2022, Monero is retracing, finding resistance at around the $170 to $190 zone. It is currently down roughly 20 percent from recent highs. As it is, every high is an unloading opportunity for aggressive traders expecting deeper corrections. Because the drawdown is with rising volume, indicating participation, traders can ride the bear trend with targets at immediate support levels.
#Monero Technical Analysis
From a top-down preview, buyers have a chance to resume the uptrend. However, the failure of bulls to press higher and overcome resistance at $190 hinted at weakness. The follow-through of the bear candlestick of January 30 swung price action to favor sellers. With prices below the middle BB and yesterday's bar being wide-ranging and bearish, XMR may post more losses. As it is, XMR could drop to as low as $140, the 61.8 percent Fibonacci retracement level of the December to February trade range.
What to Expect from #XMR?
Bears are in the driving seat unless there is a bullish bar signaling bulls. Yesterday's bar was bearish and aligned with the lower BB indicating strong bearish pressure. Traders may look to sell, targeting $140 or lower in the days ahead.
Resistance level to watch out for: $170
Support level to watch out for: $140
Disclaimer: Opinions expressed are not investment advice. Do your research.
