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Monero "XMR" Technical Analysis | 6 August 2019

2019-08-06 09:41 am | Resource: Technical Analysis Section | No Views : 39

Monero Monero (XMR) against USD during trading last month and specifically in the second trading day in the last week of the month rebounded from the rising trend line as a result of purchasing power intervention.
During the first days of this month, the digital currency broke through the bearish trend line and continued to rise to break through 88.03 $ and continued to rise towards resistance areas of 96.65 $.
Monero "XMR" Technical Analysis | 6 August 2019The digital currency is trading in a bullish direction on the interval of 240 minutes supported by the breach of the bearish trend line and the breach of the resistance area of ​​88.03 $.

Analysis of Technical Indicators of the digital Currency Monero (XMR):

The ADX indicator is currently bullish and indicates that the strength of the uptrend has increased over time.
The simple moving average and the slow moving average are pointing upwards.
The momentum indicator of MACD with regular settings is currently bullish.

Outlook:

It is expected that, in case of encrypted currency breach area of $ 96.65, Monero (XMR) may target the area of ​​$ 108.00
On the other hand, in the event of a the encoded currency breach of $ 85.61 areas, Monero (XMR) may target the area of $ 78.53.
Support: 88.03 - 75.61 - 71.43
Resistance: 96.65 - 107.97 - 117.48
Trend: Up

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