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XMR/USD 29 January technical analysis

HomeAnalysis — XMR/USD 29 January technical analysis

 

  • Bears had a field day this Monday as the XMR/USD market sits dangerously on the $43 support line.
  • Bulls need to pull back and break through the resistance at $47.50 to stop further downtrend.

XMR/USD lost nearly 6% of its value this Monday based on market speculation. XMR/USD is currently sitting dangerously on the $43 support line with the bears having a field day. The bulls need to fight back and breach resistance at $47.50 to stop any further downtrend. The crypto marketwas walloped this Monday with BTC/USD itself losing over 3% of its overall value.

Currently, the XMR/USD market is straddling the $43 support line. The 20-day simple moving average curve(SMA) is trending above the market which shows that the overall trend is still bearish. To stop further downtrend, the bulls need to fight back and breach short-term resistance at $47.50.

BITCOIN מלשון ביטחון

BTCSMARTCONSULTING@GMAIL.COM

Mena’hem Mendel Sultan

 

 

google doc link

the graph’s link