Crypto Technicals: XMR/USD finds stiff resistance at 21-EMA (56.26), break above to see gains till 59.40 (55-EMA)

XMR/USD chart - Trading View

Exchange - Bitfinex

Support: 53.46 (5-DMA); Resistance: 56.26 (21-EMA)

Technical Analysis: Bias turning bullish

Monero has resumed upside after brief pause on Thursday's trade, bias has turned slightly bullish.

XMR/USD was trading 1.84% higher at 55.371 at 07:00 GMT after closing 2.77% lower in the previous session.

Upside finds stiff resistance at 21-EMA at 56.26, break above will fuel further upside in the pair.

The pair is trading in a 'Descending Triangle' pattern and technical indicators are turning slightly bullish.

5-DMA is now biased higher and Stochs and RSI have rolled over from oversold levels and are biased higher.

Breakout at 21-EMA will see further gains. Next hurdles on the upside lie at 55-EMA 59.40 ahead of Triangle top at 61.35.

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