XMR/USD Medium-term Trend: Bearish
Supply zones: $180.00, $190.00, $200.00
Demand zones: $70.00, $60.00, $50.00
XMR continues in the bearish trend in the medium-term outlook. The bullish pressure that pushed price to $118.02 in the supply area above the 10-day EMA gradually fade as bears returned.
The strong bearish pressure pushed price down to $107.09 in the demand area below the 10-day EMA before the close of yesterday market. The opening 4hour candle was a bearish and price was further pushed down to $100.10 in the demand area.
The stochastic oscillator is in the oversold region at 10 % and its signal points down which implies downward momentum in the cryptocurrency price in the medium-term as the as the bears’ pressure becomes much stronger.
XMR/USD Short-term Trend: Bearish
The cryptocurrency is in a bearish trend in the short-term outlook. The bears’ pressure became much stronger and this led the break of $111.89 in the lower range of yesterday analysis.
The cryptocurrency made a low of $107.09 before the close of yesterday market. The 1hour opening candle of the day is bearish and this further push the cryptocurrency down to $100.10 in the demand area.
The stochastic oscillator is in the oversold region at 18 %. Its signal points down which implies downward momentum in price of the coin in the short-term.
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