Monero (XMR) trading cryptocurrency market update for May 22, 2019

May 23, 2019 --- Altcoins

Monero (XMR) trading cryptocurrency market update for May 22, 2019

3-Day Chart

Monero v’s bitcoin can't seem to get out of its own way considering another blue SCMR signal earlier in the week came on a bearish gravestone doji which is being followed up by a shooting start while market structure remains bearish overall and strong dynamic resistance continues to build overhead, none of which is good news for the bulls moving forward. Neither are the falling moving averages, the lackluster volume indications, or the bearish Ichimoku Cloud, so we'll stay patient for lower levels before getting active, however price is still in the long-term demand area as momentum becomes more favorable so we still want to be buyers in the lower half of said area if given the chance moving forward.

Short term Members ProTrade - No trade idea right now

Medium-term Members ProTrade - We will consider a LONG position on a selloff back down to the 0.0xx - 0.0xx area with a stop around 0.0xx and a target of 0.0xx..

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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