XMR/USD Medium-term Trend: Ranging
Resistance Levels: $115, $120, $125
Support Levels: $95, $90, $85
It’s necessary to recall that a major bearish trend occurred in the XMR/USD market price point last week on October 11 after a long chain of ranging movements. During the falling motion, the market was eventually testing briefly past below $100 price level.
Around $104 and $100 price territories, price has been ranging quite a while until now as the market is currently hovering within the bands. It has equally been observed that the crypto has once got pushed northwards past the indicators and the $108 resistance level briefly. It has now been reversed past $104 price level. The Stochastic Oscillators have crossed to point south a bit above range 20. This suggests that bears may take up the market direction soon.
XMR/USD Short-term Trend: Bullish
There were price ranging movements in the XMR/USD market throughout yesterday as being experienced in most of the last trading sessions. The range has been marked by $102.50 and $97.50 levels.
Price has earlier on been pushed northwards to test a resistance level around $108. As at now, it has been traded between the upper and the middle Bollinger Band with the 50-day SMA. The Stochastic Oscillators have crossed to point south around range 40. This signifies that bears are most likely to take over the market. There is a tendency that this crypto may be dragged further southward to test briefly past below $97.50 price level to possibly give room for a potential bullish market emergence.
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