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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.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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