Hey Guys..!!
Meet again with me Wahyu Nahrul, This time I want to make a brief technical analysis of a cryptocurrency chart, the analysis I made is based on my experience and knowledge.
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Alright, let's get straight into the discussion, happy reading!!
Monero (XMR) Analysis
Today, June 01, 2022, I will try to technically analyze the price movement of Monero.
If we look at the whole then we can get that XMR is still in a Bearish Phase in recent times. However, unlike other cryptocurrencies, which experienced a fairly deep price drop, XMR only saw a not-so-significant price decline and it was also seen that the price of Monero had increased several times to fight the Bearish Phase that occurred.
Even so, the EMA indicator still shows the Death Cross that has occurred a few days before and there is still no sign of a golden cross in the future.
However, the ADX indicator shows the opposite where there is a Golden Cross between the DI+ and DI- lines, which is a positive signal that a bullish trend will occur in the future.
This is also shown by the RSI where there are no more oversold moments that occur in XMR and even the RSI line is already above the middle band line which is a positive signal that there is interest from the market again to buy XMR.
Disclaimer: