MONERO Price Prediction: Long-term (XMR) Value Forecast – July 28
• The long-term outlook is in the downtrend.
- $72.00 in the demand area is the bears' target in the new week.
XMR/USD Long-term Trend: Bearish
Supply zone: $140.00, $180.00, $220.00
Demand zone: $40.00, $20.00, $10.00
XMR remains in a bearish trend in its long-term outlook. The bears held on to the market during last week session with a drop to $78.43 in the demand area on 24th July. This is within the 23.6b fib area a trend continuation zone.
The resistance at the 10-EMA rejected further upward price movement at $83.71 in the supply area.
$83.71 in the demand area was the low of the week as the bears' momentum increased.
Exhaustion denoted by wicks in the candles is seen in yesterday and today’s candles with today's opening price at $83.71. The sustained pressure by bears has the coin down to $78.14 in the demand area.
Price is below the two EMA and the stochastic oscillator signal points down at 34% which suggest downward continuation in price in the long-term.
$72.00 in the demand area is on the card for a retest as the journey down south continues in the new week.
Live Monero (XMR) Price:
1 XMR/USD =$460.7924 change ~ 5.59%
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