Crypto Technicals: XMR/USD consolidates above 55-EMA, further gains on charts

XMR/USD chart - Trading View

Exchange - Kraken

Support: 62.15 (55-EMA); Resistance: 67.74 (110-EMA)

Technical Analysis: Bias turning Bullish

XMR/USD is trading 1.46% higher on the day at 63.91 at 06:30 GMT, bias turning bullish.

Price action has resumed upside after a brief pause on Tuesday's trade.

The pair is consolidating break above 55-EMA and technical studies suggest scope for further gains.

Momentum studies are bullish, RSI is above 60 and supports bullish momentum. Volatility is rising.

'Bullish Divergence' on Stochastics indicator on the daily charts raises scope for further upside.

Next bull target lies at 110-EMA at 67.74. Break above will see gains till 21W EMA at 70.325.

On the flipside, 55-EMA is strong support at 62.16. Retrace below will negate near-term bullishness.

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