Hello, dear Traders! Monfex is at your service and today we overview XMR/USD.
Monero broke the resistance line of the descending channel, but we have the key level for confirmation of a further growth ! XMR is suspiciously the most passive in recent time and now it starts to growth. The great resistance zone ~ $ 57. This long idea also supports the positive volumes. Also Monero has a bullish divergence with realization of it and for now with the bearish divergence by RSI with influence of which can rebound the price to the $ 53.5. But we remember about money-risk management and limit ourselves of possible losses!
Supposed Trade Signal by XMR/USD
Long with confirmation of breakout near $ 58.7
Take profit ~ $ 65 - 66
Stop loss at $ 56.1
Market Cap $991 836 816 USD
Volume (24h) $147 798 879 USD
Circulating Supply ~17 262 257 XMR
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Disclaimer This report is for information purposes only and should not be considered a solicitation to buy or sell any trading assets. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.