MONERO Price Prediction: Long-term (XMR) Value Forecast – June 30
• The long-term outlook is in the bullish.
• Traders may consider buying with bullish candle reversal pattern as confirmation
XMR/USD Long-term Trend: Bullish
Supply zone: $140.00, $180.00, $220.00
Demand zone: $40.00, $20.00, $10.00
XMR remains in a bullish trend in its long-term outlook. Crossing the $100.00 price mark two weeks ago, the bulls target in the long-term is the $150.00 in the supply area.
Last week, XMRUSD rose to $121.12 on 24th June. This was a retest of the high made on 15th October as the daily candle closed as an inverted hammer, an indication of a trend reversal.
The support at the 10-EMA was broken just as price fell to $101.01 in demand area on 26th June. Increased pressure pushed price further down to $88.60, the low of the week on 27th June.
This was at the support around the 50-EMA and the trendline with bearish exhaustion setting in which was denoted by the wick in the candle.
The drawdown is a market correction and a confirmation of the bullish continuation in the long-term, hence the bulls dominance of the market in the days ahead.
The stochastic oscillator signal points down at 31% suggesting downward momentum which may be brief before the bullish continuation.
Live Monero (XMR) Price:
1 XMR/USD =$214.0177 change ~ 2.49%
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.