#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.
XMRUST trade ideas
XMRUSDT | SUPPORT BROKENXMRUSDT on daily time has broken has broken below the rising support.
The bears have taken complete control.
Now the price is trading near the support zone .
Manage your trades accordingly.
XMRUSDT - Crucial pointXMRUSDT - Crucial point
At this very moment XMR is facing the resistance of the median of the Keltner Channel and needs to break through 168.6 , to disfigure the bullish channel that coincides exactly with the median of the Keltner Channel.
With moving averages pointing upwards and a buyer's RSI, I believe that if nothing external influences it will break even today.
On January 31st, getmonero.org underwent maintenance and was offline for a few hours, and this generated a kind of collective panic. But hours later it was back to normal and she recovers easily. Good currency to trade, no big dumps.
Here are the supports and resistances in the 4H:
Key support levels: 163.3 / 159.5 / 155.8
Main Resistance Levels: 168.5 / 171.5 / 182.4
XMRUSDT 4HXMRUSDT
XMR remains within this descending pattern, which is a downtrend characterized by lower lows and lower highs, but if it does not miss the bottom of 163.8 we could see an accumulative triangle formation being formed, with high possibilities of an upside breakout.
No US macroeconomic data to be released this week, it should be a quiet trading week for BTC, putting a brake on dominance and the alts could make a good rally.
Important: You cannot miss the bottom of 163.6
Here are the supports and resistances in the 4H:
Main support levels: 163.6 / 159.5 / 156.4
Main Resistance Levels: 167.4 / 171.5 / 178.9
Lets take a look at XMRI do believe XMR will flip BTC one day. I do appreciate that XMR supports privacy because we support privacy. As we can see we have a Huge Head $ shoulders pattern that has formed. We can see the right shoulder is getting weaker and weaker. Every HL on this right shoulder could be a potential short entry. This is not financial advice
🟢 XMR USDT - 4H (04/02/2023)🟢 XMRUSDT
TF: 4H
Side: Long
TP 1: $174.22
TP 2: $176.67
TP 3: $178.65
Absolute beauty! Gorgeous looking bull flag on the 4H time frame. When this pops its gonna be awesome.
Not using SL as usual on this swing trade so I can DCA and get the best possible entry for my position.
RSI and MACD look ready. LTFs just need to sync up a bit.
Lets take a look at XMRWe actually want to buy BTC to be replaced by XMR. Tell us your thoughts on this. This is not financial advice.
TECHNICAL ANALYSIS is the new KING ok here me out.
i'll go straight to point
this message is for the newbies (oldies gonna hate)
what is pure Minimalist Technical Analysis Trader ( MTAT : i just made this up)
-it is when u leave out all so-called indicators and focus on the chart
-some of these indis are: MACD, RSI, ATR, STOCHT....
-it's when u leave out the FUNDAMENTAL analysis and focus on the chart pattern
- i'm talking here about financial news and garbage flash news
- didn't u sometimes realize that a news come out, but the dollar act contrary to the news it-self?
HOW TO APPLY this MTAT ?
let's be practical, but first u need to watch so many charts until ur eyes pops out (it's a prerequisite).
1- always pick a 4h-time frame chart
2- always brush ur teeth before bed time
3- always look for a bullish pair to trade (this is essential for the plan to succeed)
4- after identifying the bullish pair, start looking for SUpport & Resistance...but never make the chart too complicated, u really need like 2-4 lines drawn only
5- after u draw the S&R lines, look for retracements (the pair is going down slightly)
6- use the FIBONACCI drawing tool and draw from the lowest to highest point (before the retracement)
7- it's best to focus on the 61.8% line
8- look for a confirmation candle:
a- a red Bar, which the low point of it touched (crossed) the 61.8% Fib line
b- followed by a green bar which closed ABOVE THE fib 61.8% line
c- place ur buy trade when the green candle closes
9- how to set your target:
a- use the (-61.8% or -100%) FIb levels
or
b- use the Resistance line u drawn previously
now the question is, do u really need MACD or RSI or STOCH?
of course NO, if you google it, u'll know that these reflects previous price actions? so why use it for FUTURE price actions?
what to do when big news are coming out?
IT WILL ACT ACCORDINGLY THE PREVIOUSLY SET CHART PATTERN...this will never fail you
DO YOU PLACE STOP ORDERS?
NEVER, never put pre-set stop orders,
you should be active on ur screen and wait for the price to fall to the price u set as a stoploss, AND CLOSE TRADE MANUALLY
WHY?, because when we have big news, we have volatility the pair will go up and down so hard to close all stoploss orders
then it will continue to obey the technical chart pattern as a fukn slave!
let's practice:
use the FIB Ret tool:
identify the red and green candle:
place your buy order:
et voila....
#STOP_BEING_POOR
XMRUSDT...freshly baked sh*t ideaBINANCE:XMRUSDT
freshly baked sh*t idea just for the loyal customers of the shop!
look at the chart? what do you see?
do u see a previous uptrend of MONERO? YES
do u see retracement? YES
do u see consolidation? yes i do (stop asking u stupid FUK)
do u see a strong SUPPORT?????????? YESSSSSS
do u see dead people? WTF! yes i do!
look again at the chart and set your targets...i know i did!
#stop_being_poor
DISCLAIMER: this advice will make u poor as FUK
XMR triangle breakoutPlease 1st of all click the boost 🚀 button if you want me to post more ideas and follow me to support my work! It's absolutely for free.
Have this draw for week or so just didn't post but now is the time I guess! Orange trendline added. Monero broke up this triangle 📐 and now still backtesting it's upper edge. I just bought as I think there is chance to reclaim the previously broken triangle lower edge and then the price could surge to 203.5 target and even higher.
ENTRY : local high @ 174.2
STOPLOSS (SL) : local low @ 167.0
TARGET (TP) : height of the triangle projected from midpoint of the local range @ 203.5
REWARD RISK RATIO (RRR) : 4.0
INVALIDATION : when SL level hit
Check my other stuff in related ideas.
Please like👍, comment🗣️, follow me✒️, enjoy📺!
⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
XMRUSDT 4HXMRUSDT 4H
The price is trading inside the bullish channel, it has crossed the Ichimoku cloud downwards but is engulfing and the tendency is to test the cloudiness of the Cloud again. Before that, you can backtrack and find MM100 at 167.9. XMR is a consolidated altcoins in the market, privacy currency and I consider it one of the best to trade.
Here are the supports and resistances in the 1H:
Main support levels : 172.1 / 171.1/ 167.7
Main Resistance Levels: 174.4 / 176.6 / 177.5
XMRUSDT H1Looking at the short-term H1 chart, my overall bias for XMRUSDT is bearish due to the current price being below the Ichimoku cloud, indicating a bear market.
As the RSI shows the exhaustion of selling forces , a limit buy entry at 171.22 where it would make a triple bottom and the support of the lower line of the Keltner Channel .
Key support levels: 171.2 / 166.7
Main Resistance Levels: 175.9 / 179.9
✅RSI: Exhaustion of selling forces.
✅MM200: At the height of 177.3
Channel's floor supportA channel's floor support is in place for Monero, and unless the $164 - $168.5 range is broken, there is potential for a retest of $207.1 resistance. Due to the strong negative reaction that was observed the previous day to the resistance, it is more likely that the trend will range this week.
XMRUSDT (1H) - Bullish breakoutHi Traders
XMRUSDT (1H Timeframe)
The market is in an uptrend, and we are waiting for an entry signal to go LONG above the 186.58 resistance level. Only the downward break of 182.20 would cancel the bullish scenario.
Trade details
Entry: 186.58
Stop loss: 182.20
Take profit 1: 189.20
Take profit 2: 193.55
Score: 8
Strategy: Bullish breakout
🔥 XMR 20-Month Bearish Channel Break OutOver the last few months I made a couple analyses on XMR and the channel it was trading in. In my last analysis I expected XMR to move towards the top of the channel, and potentially break out of it.
As of now, XMR is on the verge of breaking out. A patient trader will wait for confirmation on the 3-day or weekly chart.
In case of a break out, I'm looking at $210 and $250 as my targets.
✴️ Monero Looks Ready To Take The Jump, 120% Growth PotentialMonero has been green 6 weeks straight.
Only 1 red week within an 11 weeks period.
The slow rise started after the June 2022 low but bullish momentum has been building up since early November.
Currently, XRMUSDT is trading and growing above EMA50 weekly with a very strong RSI.
Everything is flashing, "Warning, sudden growth imminent!".
We are looking at 80% to 120% potential for growth.
Namaste.
#Monero Adds 50%, Will The $170 Support Hold?Past Performance of Monero
Monero is trading above August 2022 highs as momentum fades. The uptrend remains valid, and XMR is up over 50 percent from November lows. As long as XMR trades above $170, buyers remain in control and may push prices toward $200 or better in sessions ahead.
#Monero Technical Analysis
XMR is within a bullish breakout formation, reading from the arrangement in the daily chart. For the uptrend to be sustained, XMR bulls must keep prices above $170. Otherwise, any loss below the August 2022 high may invalidate the bullish breakout of mid-January. Ideally, conservative, risk-off traders may wait for XMR prices to push above $185 in the short term, breaking out from the current $15 consolidation. Then, they can double down, especially if the accompanying volumes are high, targeting $200.
What to Expect from #XMR?
Bulls are confident but should $170 fail to hold, Monero may correct, possibly dropping to $150. This level marks the 50 percent Fibonacci retracement level of the November to January 2023 trade range.
Resistance level to watch out for: $185
Support level to watch out for: $170
Disclaimer: Opinions expressed are not investment advice. Do your research.
XMRUSDT In case of failure, this range can be similar to the photo
❌These analyzes are just to give a better perspective for you dear ones
Do not base on buying and selling❌
XMRUSDT...too late to publishBINANCE:XMRUSDT
i'm sorry i didn't publish this sh*t idea about #MONERO.
but here is the idea anyway.
it's all about retracement
it's all about technical analysis
#STOP_BEING_POOR
XMR 10% moveCould go either way currently we have upside momentum ....... But with alot more indicators factored in the downside 10% is more likely. we may move up a bit more first, so it may be mor like 13% buy the time we reverse.
As always DYOR
#XMR/USDT: Descending Channel🔸 A descending channel has been distinguished. A descending channel indicates a next move up in case if price breaks out. XMR/USD targets a move to 174 while above 172.5.n above a key resistance level and has been confirmed by a strong candle, indicating a potential bullish trend. We may consider buying at the current price zone and targetting higher level.
XMR Idea: The price failed to break through the upper border of the falling channel. Bearish divergences formed and possibly a double top pattern. 200 EMA and POC level - nearest strong support levels
