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Crypto Technicals: XMR/USD pares previous sessions' losses, close above $100 mark to propel further gains

Wed, 19 Jun 2019, 09:37 am UTC

XMR/USD chart - Trading View

Exchange - Binance

Support: 90.85 (20-DMA); Resistance: 107.65 (55W EMA)

Technical Analysis: Bias Bullish

Monero has pared previous session's losses and edged higher on the day.

The pair has broken above 61.8% Fib (97.53), near-term bias remains bullish.

Momentum studies are bullish. RSI is above 60 with further room to run. Stochs are sharply higher.

'Golden Cross' formation (bullish 50-DMA crossover on 200-DMA) keeps scope for gains.

MACD shows bullish crossover and price action is on verge of breakout at major trendline resistance at 99.50.

Volatility is rising on the daily charts. Close above $100 mark see gains upto 55W EMA at 107.65. Break above eyes 78.6% Fib at 113.89.

20-DMA is strong support at 90.85. Break below could see weakness till 50-DMA.

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

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