Crypto Technicals: Monero finds stiff resistance at 20-DMA (89.53), break above to retest $100 mark
Wed, 12 Jun 2019, 10:14 am UTC
XMR/USD chart - Trading View
Exchange - Binance
Support: 80.6142 (50-DMA); Resistance: 100 (Trendline)
Technical Analysis: Bias Bullish
Monero pullback holds above 50-DMA support, pair extends consolidation.
XMR/USD finds stiff resistance at 20-DMA at 89.5399, break above will see further gains.
'Golden Cross' confirmed on the daily charts keeps scope for upside.
Major trend is bullish. GMMA indicator shows shorter-term moving averages are turning.
Stochastics RSI is at oversold levels and is on verge of rollover. RSI is above 50 and biased higher.
Price action has edge above 200-H SMA raising scope for upside resumption.
Next bull target lies at $100 mark (trendline). Bullish invalidation likely below 200-DMA.
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