Monero (XMR) trading cryptocurrency market update for Jun 19, 2019
Jun 20, 2019 --- Altcoins
Monero v’s Bitcoin has recovered slightly over the past 24 hours and is now getting up closer to the 0.011 level on an SCMR CR UP confirmation on the daily chart (not shown), which is good for the bulls, as is the blue reversal signal on the 3-day chart below following the bullish pivot from earlier in the week. It's also encouraging to see price continue to find support in the longer-term demand area while momentum continues to recharge, although the still falling EMA's are currently acting as resistance, the SMA's all continue to fall, new dynamic resistance has emerged at the 0.0xxx local highs, the volume indications remain under pressure, and the Ichimoku Cloud continues to grow more bearish out in front of the market, so until the 0.012 level is broken the bears will stay in control overall (implying that the 0.0xx - 0.0xx range remains intact moving forward).
Short term Members ProTrade - No trade idea right now
Medium term Members ProTrade - We will consider a LONG position on a retracement back down to the 0.0xxx - 0.0xxx area with a stop around the new 0.0xxx local low and a target of 0.0xxx..
Long term Members ProTrade - We will consider a LONG position on a move back down to the 0.0xx - 0.0xx area with a stop around 0.0xx and a target of 0.0xx.
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