XMR SHORT PROJECTIONXMR is currently experiencing a sideways price action, with a notable strong resistance capping its price movement, preventing it from surpassing the $170 level on the daily timeframe. In light of this, we anticipate a downside momentum to act as a correction leg for the previous bullish trend. Simultaneously, we are closely observing for a potential bearish breakout to occur on the support within this market structure.
Xmr
XMR: Approaching ResistanceMonero (XMR) technical analysis:
Trade setup : Price is in an Uptrend overall. But near-term, after getting rejected at $170 two- or three times, that could signal a Double or Triple Top pattern, which is negative (bearish). Now we wait for price to either 1) break above $170 to signal uptrend continuation, or 2) pullback to $150 level that could serve as an attractive entry opportunity.
Trend : Neutral on Short-Term basis and Uptrend on Medium- and Long-Term basis.
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI ~ 50 (Neutral).
Support and Resistance : Nearest Support Zone is $163, which it broke, then $150. The nearest Resistance Zone is $170, then $187.
XmrThe upper red lines are a strong resistance zone that can cause the price to decrease. Currently, I am looking at the green lines for buying and selling Sculpi or in the medium term.
Moneo(XRM) Nothern Journey beginsMonero bulls defended $152 support- Is $168.8 achievable
Strategy Bullish
Profit Target 168-172
If Break above 179USD and 3days closing successfull above 179 The strategy turns to Tend Strategy Bullish
Risk Management: Proper trailing stop
XMR dropped to its previous parallel channel’s mid-level of $152 after BTC retreated to $26K on 28 March. The $152 level also coincided with the Fixed Range Volume Profile’s POC (point of control) line, which attracted increased trading volume.
The recovery blasted above the local resistance at $157.6. Bulls could push XMR to $168.8 if they clear the obstacle at $165. A strong BTC upswing into FWB:29K could tip XMR to target other key resistance levels, including $179 and $187.
A close below $157.6 could attract bears into the market. However, bears must clear the $152 hurdle to gain market leverage to sink XMR to $145 or $135.
The Relative Strength Index (RSI) dropped but rebounded and was above the 50 mark at press time, showing increased buying pressure in the past few days.
Similarly, the On Balance Volume (OBV) exhibited an uptick, showing XMR saw increased trading volumes as demand soared in the past few days.
Monero registered mixed performance in Q1, 2023. It appreciated by 40%, rising from $148 to $187 in January. In February, it consolidated before sustaining a price dump in mid-March, sinking it to $135. But XMR saw aggressive demand at the $135 level, setting it up for recovery.
Bitcoin zoomed to the FWB:29K level before retreating to $28K – indicating a bullish sentiment despite the increased U.S. regulatory pressure on the crypto industry.
If BTC reclaims the FWB:29K and surges upwards, XMR could attempt to retest or break above a crucial stiff resistance level.
In addition, XMR saw more liquidation of short positions than long positions. About $45.5K in short positions were liquidated in the past 24 hours, while only $3.7K in long positions were wrecked in the same period.
It shows short-positions were paying long-positions – an underlying bullish sentiment that could boost the uptrend.
But investors should track BTC’s price action to determine whether XMR could overcome the obstacle at $165.
Bearish Breakout Signals XMR's Potential Downward MoveXMR has recently experienced a bearish breakout from the distribution zone established on the hourly timeframe. Following the breakout, there was a subsequent pullback, suggesting a potential continuation of the bearish trend toward the indicated key zone.
SELL Monero, Not Quite, Not YetSince monero broke it's 164.60 support level on Feb 9th 2023, it has attempted to break this level in March and April and failed. Monero then retested the support level of 137.60 which was formed on December 28th 2022 and has been testing and holding multiple times.
Fast forward -for the last 6 days Monero has reformed and has been consolidating and holding the now reformed support level for the first time in 5 months
Once monero continues holding 164.60 or 151.90 it will pump. Keep the hodl bag
XMR/BTC - Monero: Resistance_Breakout_Confirmation◳◱ A Resistance Breakout and Confirmation has been detected on the OMXSTO:XMR / CRYPTOCAP:BTC 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 0.00561 | 0.00586 | 0.006553, and the major support zones can be found at 0.004917 | 0.004474 | 0.003781. Consider entering a trade at the current price zone of 0.005414 and targeting higher levels.
◰◲ General info :
▣ Name: Monero
▣ Rank: 28
▣ Exchanges: Binance, Kucoin, Huobipro, Gateio, Poloniex, Kraken
▣ 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: 0.005414 ₿
▣ 24HVol: 138.421 ₿
▣ 24H Chng: 3.202%
▣ 7-Days Chng: 17.74%
▣ 1-Month Chng: 7.61%
▣ 3-Months Chng: 5.67%
◲◰ Pivot Points - Levels :
◥ Resistance: 0.00561 | 0.00586 | 0.006553
◢ Support: 0.004917 | 0.004474 | 0.003781
◱◳ Indicators recommendation :
▣ Oscillators: NEUTRAL
▣ Moving Averages: STRONG_BUY
◰◲ Technical Indicators Summary : BUY
◲◰ Sharpe Ratios :
▣ Last 30D: 1.53
▣ Last 90D: 0.00
▣ Last 1-Y: 0.69
▣ Last 3-Y: 0.68
◲◰ Volatility :
▣ Last 30D: 0.41
▣ Last 90D: 0.36
▣ Last 1-Y: 0.55
▣ Last 3-Y: 0.93
◳◰ 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 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.
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✴️ Monero Year Long Consolidation Phase | Think Long-TermSince June 2022 Monero (XMRUSD) has been moving within a sideways channel with a bullish bias, that is, printing higher lows.
A year is a very long time in Crypto and what will happen next is something big.
This long-term consolidation phase can continue, believe it or not, but it can also break anytime.
Once the massive bullish action start, you will wonder "Why didn't I jump in in 2023?".
You will be thinking, "I saw it, it was trading at bottom prices forever and I just ignored it...", not only about Monero but about most Cryptos, that's how market psychology works.
When the time to buy is right, we tend to detach and feel not interested.
Once everything starts to move and euphoria shows up, the prices are bad as they become too high but that is when people want to get involved.
There are many opportunities now but we need to focus on the long-term.
Think long-term!
That should be the mantra when buying, when reading, when planning... Think long-term and success is guaranteed.
Namaste.
Downward Trend and Key Support LevelsOver the past month, XMR has been trending downwards, experiencing a moderate level of selling pressure. This led to the breach of its initial support level around $147, and the price subsequently hit the second support level at approximately $136. As anticipated, there was a positive reaction at the second support level, resulting in a 6% increase in XMR's price. However, the buying power was not sufficient to break through the resistance at the $147 range, indicating a pullback in the ongoing downward trend.
The RSI level for XMR is currently at 37, indicating a moderate level of downward momentum. This suggests that there is still some selling pressure on XMR, but it is not yet in an oversold condition. The RSI level of 37 aligns with the overall analysis, confirming the presence of bearish sentiment in the market.
As the selling pressure persists, XMR lost support at the $136 range and is now testing an important support level situated between $122 and $128. This support level corresponds to the starting range of the last upward movement observed on a weekly basis. It is crucial for XMR to hold above this support range to avoid further downward movement.
Taking a broader perspective, on longer time frames, XMR is currently in a range-bound trend, while on a daily time frame, a clear downward trend is evident. To change the trend and reverse the downward movement, XMR would need to break the downtrend line and rise above the resistance level of $150.
Considering the combined analysis of the price action, support and resistance levels, and the RSI, it suggests that the market sentiment for XMR remains bearish, with selling pressure continuing to influence the cryptocurrency's price. Traders and investors should closely monitor the support level around $122 to $128, as a significant break below that range could potentially lead to further downside movement for XMR.
XMR Potential Ban of anonymous crypto projects !If you haven`t sold XMR here:
Then i will remind you that Monero (XMR) has gained popularity for its capacity to enhance user anonymity, making transactions challenging to trace through the utilization of stealth addresses. However, this aligns with a goal that regulators do not necessarily support in the cryptocurrency space.
A leaked version of a US draft bill has surfaced, suggesting the elimination of anonymous crypto projects. The proposal also mandates that DAOs, DeFi platforms, and exchanges register legally in the United States. This development indicates a potential shift towards greater regulation and oversight within the industry.
My price target for XMR is $96.50.
Looking forward to read your opinion about it!
Monero (XMRUSDT) an 80% rise I won't be talking too much about how bullish XMR is currently. But we just went along quite aggressively considering multiple technical aspects of the current price action. The most important is obviously the weekly break and close above the long-term downtrend trendline. Secondly, we have the price hoovering above the 61.8% Fibonacci level for quite some time now. It is either to go big now or....
We are going in now!
Monero's $130 Threshold: The Make-or-Break for an 80% Upswing💎 Since #XMRUSDT's bounce and rejection of the 78.6% Fibonacci support, coupled with the uptrend trendline, we're seeing the price gravitate towards that trendline once more. This suggests that buying pressure could be ramping up, opening the door to a significant upside potential.
💎 However, this bullish scenario will hold water only if the $130 psychological and technical support level remains unbreached. If this condition is met, we could be looking at a nearly 80% price increase, with #Monero potentially setting its sights on the double Fibonacci resistance at $258.
💎 Our ParadiseClub members should also keep an eye on the nearest resistance at $196, where the 23.6% Fibs intersects with the downtrend trendline.
💎 While less likely, we must also consider the scenario where OMXSTO:XMR breaks below the $130 level. Such a move would be a major red flag for the bulls.
✴️ Monero Long-Term Recovery, Leads To Long-Term GrowthThe bear market bottom was set June 2022 for Monero, XMRUSDT.
After this low was hit, we are seeing a long-term recovery phase.
We have a strong resistance level around 180.
Each time this level is hit it becomes weaker.
Monero is on the move again based on this 3D chart.
The last two candles closed bullish and the current one is pushing prices above EMA10.
This pair is set to challenge 180 again... As soon as 180 breaks, we should see a strong jump take place.
Then more consolidation before the next bull-market cycle.
Patience is key.
Monero is good for the long-term.
Namaste.
Monero's resilience in a tough crypto marketBoth 2022 and 2023 have been challenging for crypto. But there is a bastion of stability in XMR. You can see in this chart how stable that coin is (no pun intented) vs the volatility of the rest of the crypto space.
Whilst BTC recovered and so did the other major cryptocurrencies they are still hugely susceptible to volatility. Monero on the other hand enjoys a much steadier course underlined by strong demand.
Corrective CycleIn recent weeks, XMR has demonstrated a persistent trend confined within a defined range. Significantly, it has breached its upward trend line, indicating a shift towards a corrective cycle on the daily time frame. Presently, XMR is trading within the $153 range. Notably, transaction volume has experienced a notable decline, falling below the 30-day average.
Monero's price movement is influenced by two support levels, with particular emphasis on the second support range. The first support stands at $147, while the second support lies within the range of $135.7 to $138.8. Sustaining the second support range presents an opportunity for potential price growth, potentially reaching the upper bounds of the weekly channel range around $186.
Considering the broader long-term range trend of the Monero currency, favorable market conditions can be anticipated to facilitate substantial growth.
Xmr Building Up for Massive Breakout Seems Like Getting ready for Massive Breakout formed Descending Channel In 3 days Timeframe Incase Of Breakout Expecting 180 to 200% bullish Wave
XMRUSDT Sell/Short Setup on 4H TFBearish XABCD pattern. Once this support is broken, we can take an entry @ 157 and have the retracements for our planned take profits as follows:
🚪Entry: 157
💰Trade: Cross 10-15x (2% of capital)
⛔SL: 10-20%
🎯1: 152.91
🎯2: 148.89
🎯3: 144.88
🎯4: 139.16
XMRUSDT H&S pattern remains validAfter an expected pullback, we are re-entering the XMRUSDT long as it offers a much better risk/reward opportunity.
XMR Big Upside - Caution Waiting For Back TestXMRBTC - If you are waiting for the backtest of that massive breakout, you may not get the chance for it.
Last cycle it ran 1500% against BTC before officially backtesting the break.
Cheers,
XMR IS BEARISHHi, dear traders. how are you ? Today we have a viewpoint to SELL/SHORT the XMR symbol.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
XMRUSDT potential inverted H&S reversal patternXMR has rejected the uptrend trendline, after which the price has produced a new higher hight. This by itself is a bullish sign, but we must not forget about the potential Head and Shoulders reversal pattern, which is also taking place.
XMR - Potential reversal in priceMonero has been heavily underperforming BTC for a long time, this means you are taking more risk holding XMR than if you are holding BTC
however, I see XMR is beginning to enter a super bullish state, with a maximum TPI value of 1:
This could mean that we could see a nice trend to the upside:
I like to keep it Long, simple and boring. BCH On the last Cicle I was able to get in on BCH at HKEX:80 EVEN THOUGH every single influencer and youtube were betting against it. The Token KILLED it wtih 1500% gains. I know everyone wants 5,000,0000 % returns and if not then the token isnt work it. Blackrock Stated the like open source, decentralized and permissionless tokens and CHATGPT gave me the top 10 (BCH within them):
Bitcoin (BTC): Bitcoin is the first and most well-known cryptocurrency. It is completely decentralized and operates on an open-source protocol. Anyone can participate in the Bitcoin network without needing permission from any central authority.
Ethereum (ETH): Ethereum is a decentralized platform that enables the creation of decentralized applications (dApps) and smart contracts. It is also open-source and permissionless, allowing anyone to build on top of the Ethereum network.
Litecoin (LTC): Litecoin is a peer-to-peer cryptocurrency that is based on the Bitcoin protocol. It is also open source and decentralized, with no central authority controlling the network.
Dogecoin (DOGE): Dogecoin is a cryptocurrency that was created as a joke, but has gained a significant following. It is open-source, decentralized, and operates on a proof-of-work consensus algorithm.
Monero (XMR): Monero is a privacy-focused cryptocurrency that is designed to be completely anonymous. It is open source and decentralized, with no central authority controlling the network.
Bitcoin Cash (BCH): Bitcoin Cash is a fork of Bitcoin that was created to address some of the scalability issues of the original Bitcoin network. Like Bitcoin, it is completely decentralized and operates on an open-source protocol.
Cardano (ADA): Cardano is a third-generation blockchain platform that aims to provide a more secure and scalable infrastructure for decentralized applications. It is also open source and decentralized, allowing anyone to participate in the network.
Stellar (XLM): Stellar is a decentralized platform that enables the exchange of digital assets and cross-border payments. It is open source and permissionless, allowing anyone to use the network to send and receive funds.
Dash (DASH): Dash is a cryptocurrency that is designed to be fast and efficient. It uses a two-tier network that allows for instant transactions and also provides additional features like private transactions. It is open source and decentralized, with no central authority controlling the network.
Zcash (ZEC): Zcash is a privacy-focused cryptocurrency that uses zero-knowledge proofs to ensure the privacy of transactions. It is open source and decentralized, with no central authority controlling the network.
