• The bulls remained in control of the market.
• Traders may consider buying at pullback areas with bullish reversal candlesticks pattern as confirmation.

XMR/USD Long-term Trend: Bullish

Supply zone: $160.00, $200.00, $240.00
Demand zone: $40.00, $20.00, $10.00

XMR continues in a bullish trend in its long-term outlook. The bulls sustained the momentum up north with the target at $100.00 in the supply area attained on 19th June. The pressure remained strong as seen from the bullish marubozu candle and other bullish reversal patterns formed within the week.

XMRUSD rose to $115.00 in the supply area today. This was a retest of the high the cryptocurrency attained on 6th November 2018.

The stochastic oscillator signal points up at 92% in the overbought region suggesting upward momentum in price in the long-term.

Price is above the two EMAs that are fanned apart implying strength in the context of the trend and in this case the uptrend.

$140.00 in the supply area is another key resistance area, it may be retested in the day ahead as the bulls sustained the pressure in its journey’s up north.

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.