XMR/USD Medium-term Trend: Ranging

Supply zones: $200.00, $210.00, $220.00
Demand zones: $60.00, $50.00, $40.00

XMR continues in the range in its the medium-term outlook. The bears had a brief control as price was down to $85.59 in the demand area and lost momentum. The bulls gradually gathered momentum and push the coin backup in the supply area at $93.08.

The 4-hour opening candle at $91.15 was bullish and the coin is currently up at $95.51 in the supply area within the range

XMR is still ranging and trading between $100.00 in the upper supply area and at $78.00 in the lower demand area of the range. Patience will be a good strategy to adopt as the coin ranges to allow for a breakout at the upper supply area to go long or breakdown at the lower demand area to go short.

The cryptocurrency is in a bearish in the short-term outlook. The bearish pressure could only push price down to$89.06 in the demand area after the head and shoulder pattern formed yesterday.

Today’s opening 1-hour candle at $91.55 is a bullish and price was up $95.44 in the supply area.

The cryptocurrency is consolidating and trading between $960.10 in the upper supply area and at $85.60 in the lower demand area of the range. Traders should be patient for a breakout or breakdown before taking a position.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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