Hello traders, happy Sunday. I hope you all had a fantastic weekend. Today we take a look at XMR / USD Daily.
Price has recently formed a Demand Pivot on our Daily timeframe. Our Demand Pivot has formed upon our Weekly S/R level.
- This in turns shows strong confluence for a bullish push within the midterm for Monero.
- Our current key local resistance being at our Local Supply EQ @ $59.82. A solid break and close on HTFs above this area could lead the path towards a resistance area of $70-$75 USD for XMRUSD.
- We currently do not want to see price trade below or close below our Blue area around $47.50. This in turn would shift our bias to the bearish side with targets below $39 USD.
Bullish on XMR within the mid term as long as we do not close or trade below our Weekly S/R & Daily Demand. Bullish target @ our Upper Supply level @ $101-$106 USD.
Let's have a great trading week!
Price has recently formed a Demand Pivot on our Daily timeframe. Our Demand Pivot has formed upon our Weekly S/R level.
- This in turns shows strong confluence for a bullish push within the midterm for Monero.
- Our current key local resistance being at our Local Supply EQ @ $59.82. A solid break and close on HTFs above this area could lead the path towards a resistance area of $70-$75 USD for XMRUSD.
- We currently do not want to see price trade below or close below our Blue area around $47.50. This in turn would shift our bias to the bearish side with targets below $39 USD.
Bullish on XMR within the mid term as long as we do not close or trade below our Weekly S/R & Daily Demand. Bullish target @ our Upper Supply level @ $101-$106 USD.
Let's have a great trading week!
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