XMR/USD Medium-term Trend: Ranging

Supply zones: $200.00, $210.00, $220.00
Demand zones: $90.00, $80.00, $70.00

Monero is ranging in the medium-term outlook. The bears' pressure is strong as price was initially pushed to $132.81 in the demand area. This is below the EMAs crossover. Price broke major demand zone as it touches $98.25.

The coin made a touch in this demand area on November 5th. Price is below the two EMAs crossover, this connotes presence of more sellers to further push price down.

The stochastic oscillator id at 67 percent and it signal points down. which implies downward momentum in the price of the cryptocurrency due to the bears' pressure.

XMR/USD Short-term Trend: Bearish

The cryptocurrency is in a bearish trend in the short-term outlook. The opening of the market saw the bears pushing price down to $1321.35 in the demand area. This is below the two EMAs crossover.

The increased momentum lead to a fresh demand at $98.25

The bullish momentum was able to push price back $122.11 supply area. The bears are still in control of the cryptocurrency in the short-term.


The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research

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