Monero has been on an overall uptrend since November. It is now moving within what seems an ascending channel, and very recently it has touched what can be the bottom of that channel judging by the bullish engulfing pattern in the last day's candle. If so, we can expect the price to rebound slowly back up towards the top of the channel. The MACD is also showing...
My first quick glance at Monero (XMR), shows a 510% increase after the bullish pennant comes to completion and the new rally begins. Long term (60 day) target is $2100, or just over 500% from today's value.
Watching monero closely for a breakout of a long-term pennant. Movement and a close above 0.0193 signals a possible move to new highs. All indicators hinting towards bullish sentiment with room to run. Watching closely today, and planning to add on any dips.
stochastic RSI shows higher lows and the histogram of the MACD shows upward movement, as well as a very low trading volume. I recommend to open a long position from 87.5 Stop-loss at level 85-81 purpose - 91.5-96.8-104
As we see the chart is currently moving in a sideways direction. It is a good situation to enter a swing trade. This is a 4hs chart the trade could run over several days. The breakthrough of the Symmetrical Triangle may lead to a new upward trend.
If it breaks up, expect massive gains! Vice versa for if it breaks down haha. I'll post TP and other updates soon. Let me know what you think!
Ascending triangle pattern indicating high possibility of upward momentum. Taking into consideration the structure of the price action, it's indicative of forming an expanding triangle if the ascending triangle is rejected,
I find XMRUSDT chart more important than XMRBTC. Long until next resistance level around 16 USDT, short and buy back around 15 USDT. Then long again to retest ATH at 18.5 USDT. I expect a bit of consolidation for about two weeks at that level and then test new highs at 20 USDT with a dump all the way down to 15 USDT in March or even 9-10 USDT around April. See...