XMRUSD Long-term Trend: Ranging

Distribution territories: $200.00, $250.00, $300.00.

Accumulation territories: $150.00, $100.00, $50.00.

XMRUSD pair is ranges within the price level $250.00 and $140.00.There is no evident sign of breakout to the northward for the uptrend or breakdown southward for the downward trend. It is currently trading in a ranging outlook. The candle has closed below the moving average 50, and confirms the downtrend in the long term. The Stochastic oscillator is far below 50 level in support of the downtrend.

Monero, XMRUSD, Cryptocompare chart

No definite direction has yet been established. Price is hovering below the three moving in a sideways which is indicative of a ranging market.

 

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