XMR Price Analysis: A Great coin for short term investors!

  • The day’s range for the coin is 264.130-282.460.
  • The trading volume is  245,308,756  in the last 24 hours and is down by almost 2%.
  • The XMR-BTC pair is trailing at 0.00756 and XMR with ETH is 0.1221.

Monero has provided returns of nearly 11% in this entire month and the movement of coins has always been so profitable in short term trading. The token marked the high of 315.64 in the starting of this month and just after went to the low of 219.31 and presently running at 269.21. After marking the high it went gradually down with lower highs and lower lows till 10 June and later shifted towards the sidewards movement and is still following it.

The chart above shows the movement of SMA-20, SMA-50 and SMA-200. It is great to know for its holders that SMA-20 has been running above SMA-200 now and some profits must be coming for them now.

Well it is just a matter of time that the SMA movement will shift and the trend could change. The coin shows the neutral action with the RSI value of 48.015 in the last 5 hours. MA-5 and 10 shows the SELL action whereas MA-50 and MA-100 shows the buy action in the same five hours time interval.

Conclusion: In the coming two days the coin could reach the level of 280 nearly. So if you are a short term investor then you may go with it and if you are a long term investor then you could wait for 3-4 days for the coin to fall and then purchase.

Technical Instruments:

Pivot: 269.270

R-1: 270.248

R-2: 270.852

S-1: 268.292

S-2: 267.688

This news is republished from another source. You can check the original article here

Be the first to comment

Leave a Reply

Your email address will not be published.