MONERO - XMR/USD

- USD (-)

- Real time data - Cryptocompare

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Change:	-
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Type:	Cryptocurrencies
Ticker:	XMRUSD
ISIN:

MONERO - XMR/USD - Daily - Technical analysis published on 09/28/2020 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Court terme: Strongly bullish

De fond: Strongly bullish

Technical indicators

72%

22%

My opinion

Bullish above 88.56 USD

My targets

101.56 USD (+4.87%)

119.90 USD (+23.81%)

My analysis

MONERO - XMR/USD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 88.56 USD. The next resistance located at 101.56 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 119.90 USD. After this resistance, buyers could then target 180.08 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.

In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

8.2

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The MONERO - XMR/USD price is 96.84 USD. The price registered a decrease of -0.31% on the session and was between 95.32 USD and 98.62 USD. This implies that the price is at +1.59% from its lowest and at -1.80% from its highest.

95.32

98.62

96.84

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The Central Records scanner for higher/lower results shows an item:

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

The Central Volumes scanner notes the presence of abnormal volumes:

Abnormal volumes

Timeframe : 50 days

Technical

Technical analysis of MONERO - XMR/USD in Daily shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

In fact, 13 technical indicators on 18 studied are currently positioned bullish. But beware of excesses. The Central Indicators scanner currently detects this:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

The Central Indicators scanner found this result concerning these indicators:

Price is back over the pivot point

Type : Bullish

Timeframe : Daily

The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:

Near horizontal resistance

Type : Bearish

Timeframe : Daily

Near resistance of channel

Type : Bearish

Timeframe : Daily

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	69.97	88.56	95.68	96.84	101.56	180.08	292.94
Change (%)	-27.75%	-8.55%	-1.20%	-	+4.87%	+85.96%	+202.50%
Change	-26.87	-8.28	-1.16	-	+4.72	+83.24	+196.10
Level	Major	Intermediate	Major	-	Intermediate	Minor	Minor

To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	87.92	90.86	94.00	96.94	100.08	103.02	106.16
Camarilla	95.47	96.03	96.58	97.14	97.70	98.26	98.81
Woodie	88.02	90.91	94.10	96.99	100.18	103.07	106.26
Fibonacci	90.86	93.18	94.62	96.94	99.26	100.70	103.02

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	77.39	81.57	88.08	92.26	98.77	102.95	109.46
Camarilla	91.65	92.63	93.61	94.59	95.57	96.55	97.53
Woodie	78.56	82.15	89.25	92.84	99.94	103.53	110.63
Fibonacci	81.57	85.65	88.18	92.26	96.34	98.87	102.95

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	51.95	65.24	79.28	92.57	106.61	119.90	133.94
Camarilla	85.81	88.32	90.83	93.33	95.84	98.34	100.85
Woodie	52.34	65.43	79.67	92.76	107.00	120.09	134.33
Fibonacci	65.24	75.68	82.13	92.57	103.01	109.46	119.90

Numerical data

The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators

Moving averages

RSI (14):	58.80
MACD (12,26,9):	1.9400
Directional Movement:	7.95
AROON (14):	92.86
DEMA (21):	93.73
Parabolic SAR (0,02-0,02-0,2):	90.45
Elder Ray (13):	4.30
Super Trend (3,10):	98.26
Zig ZAG (10):	96.84
VORTEX (21):	1.1800
Stochastique (14,3,5):	82.04
TEMA (21):	94.92
Williams %R (14):	-21.51
Chande Momentum Oscillator (20):	8.55
Repulse (5,40,3):	2.6700
ROCnROLL:	1
TRIX (15,9):	0.1700
Courbe Coppock:	14.82

MA7:	93.33
MA20:	90.61
MA50:	90.33
MA100:	81.54
MAexp7:	94.25
MAexp20:	91.58
MAexp50:	88.58
MAexp100:	83.18
Price / MA7:	+3.76%
Price / MA20:	+6.88%
Price / MA50:	+7.21%
Price / MA100:	+18.76%
Price / MAexp7:	+2.75%
Price / MAexp20:	+5.74%
Price / MAexp50:	+9.32%
Price / MAexp100:	+16.42%

Quotes : 2020-09-28 13:53:12 - Real time data - Cryptocompare

This member declared not having a position on this financial instrument or a related financial instrument.

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