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Crypto Technicals: XMR/USD edges above 21-EMA, technical bias turning bullish

Mon, 21 Oct 2019, 10:28 am UTC

XMR/USD chart - Trading View

Exchange - Kraken

Support: 55.29 (20-DMA); Resistance: 63.90 (55-EMA)

Technical Analysis: Bias turning Bullish

XMR/USD is extending gradual grind higher, trades 1.60% higher at 57.30 at 10:20 GMT.

The pair has broken above 21-EMA resistance, on track to test 55-EMA at 63.90.

Volatility is extremely low, but 'Bullish divergence' keeps scope for upside.

Technical indicators are turning bullish. Stochs and RSI are biased higher. MACD supports gains.

Next major hurdle lies at 55-EMA at 63.90. Break above eyes 23.6% Fib at 67.86.

Major trend is bearish. Failure to hold above 21-EMA could see downside resumption.

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