Monero Techincal Analysis: XMR/USD finds resistance at the green Ichimoku cloud
|- XMR/USD has jumped from $53.60 to $58.25 this Monday.
- The RSI indicator has peeked into the overbought zone.
XMR/USD daily chart
XMR/USD charted its second bullish day in a row as it jumped from $53.60 to $58.25 this Monday. Over this Sunday and Monday, XMR/USD went up from $50.45 to $58.25. The price is currently negotiating with the resistance at the green Ichimoku cloud, while it is hovering above the 50-day Simple Moving Average (SMA 50) and SMA 20 curves. While the Moving Average Convergence/Divergence (MACD) indicates increasing bullish momentum, the Relative Strength Index (RSI) indicator has peeked into the overbought zone, which hints at an upcoming bearish correction.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.