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Monero (XMR/USD) exchange rate analysis KW30 – In search of the long-term soil

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Monero shows the days. In the area of the 100 dollars there was a bullish reaction. Has XMR found here, the floor or other course threaten losses?

How could it be otherwise, also in the case of Monero, the massive has reached the upward movement in December 2017 at its peak. At that time, the rate of the value of Monero for just under 500 dollars. Due to the current weakness in the overall market, this Coin has been able to train about a month ago a floor at US $ 100. The indicators are divided: The Long scenario is confirmed by various indicators. The Ichimoku-Kinko-Hyo-indicator reflects very well the problematic Situation – 154 US dollars for rate increases difficult.

Bullish Version:

The soil formation in the case of Monero is completed. Of course it will not come back below the 100 US Dollar mark. The cloud of Ichimoku-Kinko-Hyo-indicator is broken – the upper edge of the: 154 US Dollar, tendency falling. The resistance range is overcome and the medium-term downward broken trend. A breakthrough of the downward trend is associated with Monero with a price increase on the 61.8 percent Fibonacci Retracement Level (US $ 190). This represents a major buying signal.

The upside targets are as follows:

  1. 167,51 US Dollar
  2. 237,33 US Dollar
  3. 302,12 US Dollar

Bearish Version:

The 150-U.S.-Dollar mark is a big hurdle for Monero. The cloud of Ichimoku-Kinko-Hyo-indicator for the caps to continue the course and Monero falls out of the upward trend channel. The 100-US-Dollar mark will run, but only for a little stabilization. The 100-US-Dollar mark will not significantly prevent undercut, and the medium – term upward trend-currently at 86 US dollars, and the trend is rising – you can further share price losses.

The objectives of the course are US $ 63. This course area is not supporting, will activate the goal at 36 US dollars.

Conclusion:

The chart image of Monero is promising. The downward movement of the last few months of volatile delivery is very harmonious, even if high. The soil formation in the range of US $ 100 is a real Chance for long-term rising prices is here. How sustainable is this ground will be remains to be seen.

Disclaimer: The presented on this page, rate estimates do not constitute buy or sell recommendations. They are merely an assessment of the analysts.

Images on the Basis of data from bitfinex.com at 07:17 PM am 27. July created. USD/EUR exchange rate at the time of writing: 0.86 Euro.

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