#monerocoinbase

MONERO ANALYSIS XMR XMR has been decreasing underneath a descending resistance line since May 18. Throughout the downward move, it bounced at the $192 horizontal support area numerous times. This appears to have created a descending triangle, which is normally considered a bearish pattern. However, after deviating below the horizontal support (red circle), XMR managed to break out. It was rejected by the $225 horizontal resistance area and is currently trying to find support. The next resistance level is found at $285. Let's keep pumping the market guys Guys Stay Bullish, Stay Humble, Stay Put #xmr #monerocoinbase #monero #monerocoin #monerocoinmining #moneromining #moneroxmr https://www.instagram.com/p/CR1LAwLMcTj/?utm_medium=tumblr

MONERO ANALYSIS XMR/USDT Monero (XMR) broke above the $268.60 resistance on April 10, indicating the possible resumption of the uptrend. If the bulls can sustain the breakout, the altcoin could rally to the next target objective at $334 and then $384. The rising 20-day EMA ($258) and the RSI above 75 suggest the path of least resistance is to the upside. However, if the bulls fail to sustain the price above $288.60, the XMR/USDT pair could drop to the 20-day EMA. A strong bounce off this support will suggest the sentiment remains positive and the bulls are buying on dips. The bulls will then make one more attempt to resume the uptrend. On the other hand, if the bears sink the price below the 20-day EMA, it will suggest a possible change in sentiment. That could result in a drop to the 50-day SMA ($232). The 4-hour chart shows the bears attempted to stall the rally near the psychological resistance at $300 but the bulls did not give up much ground. They purchased the dip to the 20-EMA and pushed the price above $300. The rising moving averages and the RSI near the overbought zone suggest the bulls are in control. This positive view will invalidate if the price turns down and breaks below the moving averages. Such a move will indicate the demand has dried up and traders are booking profits. That could pull the price down to $250. Let's keep pumping the market guys Guys Stay Bullish, Stay Humble, Stay Put #monerocoinbase #monero #monerocoin #monerocoinmining #xmr https://www.instagram.com/p/CNkCLbxAuw5/?igshid=apapkmvqwztt

MONERO ANALYSIS XMR/USD Monero (XMR) broke out of the overhead resistance at $232.39 on March 13. This clears the path for a rise to $288.60. However, the bears are in no mood to relent. They are trying to pull the price back below the breakout level at $232.39 If they succeed, the XMR/USD pair may again drop to the 20-day EMA ($220). This is an important support to keep an eye on because a strong bounce off it will suggest the bulls continue to buy at lower levels. The gradually rising 20-day EMA and the RSI above 57 suggest a minor advantage to the bulls. This positive view will invalidate if the bears sink the pair below the 20-day EMA. Such a move could pull the price down to the 50-day SMA ($197). The 4-hour chart shows the formation of an ascending triangle pattern. The price is currently retesting the breakout level from the triangle at $232.39. A bounce off of this support could resume the uptrend to the pattern target at $292.89. Contrary to this assumption, if the bears sink the price below the trendline of the triangle, it will invalidate the bullish setup. That could pull the price down to $200 and then to $171.90. Let's keep pumping the market Guys Stay Bullish, Stay Humble, Stay Put #monero #monerocoin #xmr #monerocoinbase #monerocoinmining #xmr1000 https://www.instagram.com/p/CMbr58ehbZ4/?igshid=mk2fr8zn82ih