Crypto Technicals: Monero (XMR) breaks above 200-DMA, bias turning bullish

XMR/USD chart - Trading View

Exchange - Kraken

Support: 75.93 (200-DMA); Resistance: 82.75 (trendline)

Technical Analysis: Bias Bullish

XMR/USD has shown a break above 200-DMA after many days of consolidation below.

Technical indicators have turned bullish, scope for further upside.

Stochs and RSI have rolled over from oversold levels and are biased higher.

MACD is showing a bullish crossover on signal line and the pair has broken above major EMAs and cloud on the 4H charts.

Close above 200-DMA will take the pair higher, raising scope for test of trendline resistance at 82.75.

On the flipside, failure to hold above 200-DMA will see sideways trade for longer. Break below 5-DMA will see weakness in the pair.

TokenPost | [email protected]