- The bulls remained in control of the long-term outlook.
- Responsible buying may be considered.
XMR/USD Long-term Trend: Bullish
Supply zone: $100.00, $110.00, $120.00
Demand zone: $30.00, $20.00, $10.00
XMR long-term outlook continues in a bullish trend. The strong bullish pressure was sustained in the week ended with the target in 1.618 fib level at 60.00 in the supply area hit on 1st April.
XMR rose to 70.92 in the supply area, this was another fib target at 2.618 on 2nd April. $73.00 in the supply area was the high of the week attained on 3rd April.
The bullish pressure remains strong in the week ahead with price above the two EMAs and the stochastic oscillator signal pointing up 91%. It implies an upward momentum in price of the cryptocurrency.
The 3.618 fib area at 75.85 is the initial target while 4.236 fib area at 85.00 in the supply area would be the next target 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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