MONERO Price Prediction: Long-term (XMR) Value Forecast – July 21
• The long-term outlook is in a bearish trend.
• $72.00 in the demand area is on the card as the bears sustained the journey down south.
XMR/USD Long-term Trend: Bearish
Supply zone: $140.00, $180.00, $220.00
Demand zone: $40.00, $20.00, $10.00
XMR continues in a bearish trend in its long-term outlook. The momentum down south was sustained during last week session with the predicted target at $80.00 hit on 15th July. The bears kept the pressure up with a further drop in the coin to $71.84 in the supply area.
The market correction was necessary hence the minor rally before the end of the week with the coin back up at $87.81 in the supply area. This area was the 38.2 fib a trend continuation zone with bullish exhaustion denoted by the wick.
The new trading week is beginning on a bearish note at $85.18 with wick been noticed in the candle with price already down at $82.87.
Price is below the two EMA and the stochastic oscillator signal points down at 32% which suggest downward continuation in price of the coin.
$72.00 in the demand area may be retested as the journey down south continues in the days ahead.
Live Monero (XMR) Price:
1 XMR/USD =$209.8202 change ~ -2.02%
The views and opinion as expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.