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Crypto Technicals: XMR/USD extends choppy trade along 78.6% Fib, 'Bullish Divergence' keeps scope for gains

Thu, 10 Oct 2019, 10:50 am UTC

XMR/USD chart - Trading View

Exchange - Kraken

Support: 54.00 (Trendline); Resistance: 60.10 (21-EMA)

Technical Analysis: Bias Neutral

XMR/USD has been extending choppy trade along 78.6% Fib retracement level at 54.90.

The pair continues sideways grind along strong trendline support, weakness likely on break below.

Major trend in the pair has been bearish and there are no major signs of recovery seen.

The pair was trading 3.36% lower on the day at 55.48 at 10:37 GMT, bias neutral.

Stochs are showing a rollover from oversold levels. 'Bullish divergence' keeps scope for upside.

21-EMA is strong resistance at 60.10. Breakout above could see some upside. Next major resistance lies at 55-EMA at 68.42.

Breach at major support at 54.00 (falling trendline) could see test of 88.6% Fib at 46.62.

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