XMR/USD Long-term Trend: Bullish
Supply zone: $120.00, $140.00, $160.00
Demand zone: $80.00, $60.00, $40.00
XMR long-term outlook is in a bullish trend. The strong bearish pressure from $142.71 in the supply area lost momentum at $100.01 in the demand area on 9th September.
The formation of a bearish pinbar on 12th September was an indication of trend reversal with the bull gradually returning. Price broke through the critical zone finally on 13th September with a large bullish candle and the cryptocurrency was up to $116.88 in the supply area.
Price is above the two EMAs crossover, with XMR making a high $122.16 of and the stochastic oscillator in the oversold region. Its signal is pointing up which imply upward price movement on a long-term as the bullish pressure becomes strong in the coming days.
XMR long-term outlook is in a bullish trend.
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