XMR/USD: Breakout on the horizon as bulls test $43.50 resistance line
|- XMR/USD market on the verge of a breakout as the bulls take over.
- Bulls need to break past the resistance at $43.50 in the short term.
After a prolonged period of bearish domination, XMR/USD may be on the verge of a bullish breakout. The bulls have to break through resistance at $43.50 to establish bullish momentum.
XMR/USD daily chart
XMR/USD has had a bullish breakout from the triangle. The upward trending line has acted as a strong line of support for XMR/USD in recent times. Currently, the bulls are testing the $43.50 resistance band. If they manage to break past that, they should aim for the resistance at $45. The market doesn’t seem to possess the momentum required to test the $45 resistance band as of right now.
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.