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XMR/USD price analy...
 

XMR/USD price analysis  

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Jack Natan
(@cryptojack)
Active Member
Joined: 4 months ago
Posts: 6
11/09/2019 12:15 pm  

According to the price analysis of Johan Tomasson, a senior analyst at dagx.live, Monero (XMR) has re-entered the symmetrical triangle, which is a positive sign because it shows that markets have rejected the breakdown from the triangle. It is now likely to move up to the resistance line of the symmetrical triangle.

Both moving averages have flattened out and the RSI has risen to the midpoint. This points to a consolidation in the short term. The pullback might face resistance close to $90 but once the XMR/USD pair breaks out of the resistance line of the symmetrical triangle, it is likely to pick up momentum and rally to $120. Johan from dagx.live is positive and will recommend a long position after watching the price action for the next couple of days. His bullish view will be invalidated if the pair turns down from the 50-day SMA and breaks down of the triangle once again.


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