XMRUSD Medium-term Trend: Bullish
Supply zones: $200.00, 210.00, 220.00
Demand zones: 175.00, 170.00, 160.00
Monero is still in the uptrend. The minor retracement yesterday could not hold long as the bulls took control of the again. Stochastic oscillator far above the 50 level with its signal fully up. Price within the three exponential moving averages is a pointer that the bulls are on ground. Price is above the demand zone and currently at $175.25. Possibilities exist for price getting to $180.00 in the medium term.
XMRUSD Short-term Trend: Bullish
As the formation of triple top at supply zone of $174.00 brought the price down to $169.57.This created a double bottom, and shot the price of Monero up again. Pullback is expected but the bulls are very much around. The double bottom serve as a demand zone and this likely going to result in massive buying of Monero. Supply zone of $180.00 is possible in the short term as price shows more momentum to the upside is expected. A break of price at $175.00 and close of candle above it could activate the move to $180.00.
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