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 28, 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.
Further confirmation was also given by the ADX indicator with the presence of a cross between the two DI lines where the DI- the line moved above the DI+ line.
But, the RSI gives a signal that 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.
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beautiful this analysis of Monero. I bought it for $ 180 a long time ago then resold it… I never thought I'd see it at these prices. Today Monero is worth 119 euros
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Thank you.
Cryptocurrencies are indeed very difficult to predict even with the analytical approach we use on stocks.
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