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XMR / USD Long-term Trend: Ranging
Supply zone: $ 120.00, $ 140.00, $ 160.00
Demand zone: $ 80.00, $ 60.00, $ 40.00
XMR long-term outlook remains in a range-bound market. The bullish candle above the 10-EMA at $ 1107.78 in the supply area. Increased bullish momentum with the bullish engulfing candle pushed XMRUSD to $ 113.91 above the two EMAs on 4th November.
$ 114.84 in the supply area was high attained by the cryptocurrency on 6th November closing as a spinning top which implies exhaustion. A bearish engulfing candle that dropped off XMRUSD to $ 108.69 in the demand area on 8th November below the 10-EMA.
The cryptocurrency went further down to $ 104.00 in the demand area before the week end.
This new week opened lower at $ 105.36 compared to last week opening at $ 107.38. XMRUSD to a new lower low before the new trading week ends.
The cryptocurrency is in consolidation and trading between $ 115.26 in the upper supply area and at $ 100.74 in the lower demand area of the range. Patience should be exercised during this period. A breakout at the lower area
BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research
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