MONERO Price Prediction: Long-term (XMR) Value Forecast

  • The long-term outlook remains in a range bound market.
  • The bulls remain in control of the control with a possible breakout.

XMR/USD Long-term Trend: Ranging

Supply zone: $100.00, $110.00, $120.00
Demand zone: $30.00, $20.00, $10.00

XMR continues in a range-bound market in its long-term outlook. The bulls made a remarkable comeback within the week as predicted breaking out of the 10-EMA. Price rose initially to $66.00 in the supply area on 30th April.

Increased momentum signaled by the bullish marubozu, led to a retest at $71.79.00 with $71.92 as the high of the week around the upper price range as the week gradually winds up.


The bullish pressure may be sustained in the new week with a breakout at the upper supply area most probable. This is further confirmed with price above the two EMAs and the stochastic oscillator signal pointing up at 82% in the overbought region.

$72.00 is the upper supply area while $60.00 is the lower demand area of the range. A breakout or a breakdown may occur, hence the need for patience for a retest before taking a position in the long-term.

 

 

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.

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