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XMR/USD technical analysis: Monero holds of 50.000 but for how long?

  • Monero underperforms the rest of the crypto markets and it moves to the bottom of the technical pattern.
  • Since June XMR/USD has fallen from 120.00 down to 56.000 a massive 53%.
XMR/USD technical analysis: Monero holds of 50.000 but for how long?
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

XMR/USD is in a clear downtrend and in around five months has lost a massive 53%.

It does look like XMR is trying to base out but the price is hugging the bottom of the falling wedge pattern.

The relative strength indicator (RSI) is still depressed but is not at oversold levels just yet.

The resistance level that traders are looking out for is the psychological 60 point.

Monero analysis

XMR/USD

Overview
Today last price56.3847
Today Daily Change0.2507
Today Daily Change %0.45
Today daily open56.134
 
Trends
Daily SMA2069.693
Daily SMA5075.3667
Daily SMA10083.0803
Daily SMA20078.6188
 
Levels
Previous Daily High57.9072
Previous Daily Low54.6958
Previous Weekly High74.1202
Previous Weekly Low54.7074
Previous Monthly High97.8571
Previous Monthly Low65.9364
Daily Fibonacci 38.2%55.9226
Daily Fibonacci 61.8%56.6805
Daily Pivot Point S154.5841
Daily Pivot Point S253.0343
Daily Pivot Point S351.3727
Daily Pivot Point R157.7955
Daily Pivot Point R259.4571
Daily Pivot Point R361.0069

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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