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Long-term trend XMR / USD: variable
Supply area: $ 100.00, $ 110.00, $ 120.00
Demand area: $ 30.00, $ 20.00, $ 10.00
The long-term prospects of XMR remain in a market related to the range. The week opened with a bullish marubozu candle with XMRUSD at $ 56.53 in the supply area with bulls ready for a trip to the top of the supply area. But the bullish momentum was lost to $ 55.28 in the supply area on January 7th.
The bears took control of the market was confirmed on January 10 with a large bearish wrapped candle after a series of two inverted bearish beards. XMRUSD earned a minimum of $ 44.27 in the demand area.
The price is lower than the two EMA and the signal of the stochastic oscillator drops to 15%, which implies a downward momentum in the days following the interval.
The cryptocurrency is in the process of consolidation and trading between $ 60.50 in the upper supply area and $ 38.50 in the lower demand area of the segment. There will be a breakout in the upper supply area or a break in the lower demand area, so patience is needed before taking a position.
The opinions and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your research.
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