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XMR: Approaching Resistance
Monero (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.
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.
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