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- The XMR has a long -term bull outlook for price charts.
- Escape, consolidation, followed by another escape, emphasized the power of the asset in longer time horizons.
Monero [XMR] From April 7, 82%gathered. The volume of trading has been constantly high in the last year.
With its previous historically maximum at $ 542, only 60% higher, the chance of the new historical high level of this year seemed good.
XMR represents a solid bull case
Source: XMR/USDT on TradingView
The 1 -week chart showed the outbreak of assets from the multi -year consolidation phase in December. The level of $ 183, which has been a strict resistance since the middle of 2022, was inverted to support.
Until April, this level of support was re -tested on several occasions.
Fibonacci retraction levels, on the basis of a decline in 2021-22, showed that the level of 61.8% was $ 246. At the beginning of this year, this level was tested as a resistance, but escape was not possible.
Last year, Monero’s escape, consolidation and subsequent rally in May were accompanied by the trend of the high volume of trade volume.
This was an excellent news for long -term investors because it showed increased demand and belief.
The 1-week chart was painted intensely by a bull picture. It could be a little late for FOMO, but the XMR seemed to be preparing for a new historical high time.
In the coming weeks, another goal would be $ 23.6% and 61.8% extension to $ 396.8 and $ 489.5.
Source: XMR/USDT on TradingView
On a one -day chart, Monero retained his bull inflammation. The CMF was +0.12 to signal the influx of heavy capital.
The volume of trading has risen since April, as evidenced by a growing 20-over-gliding average for volume stripes.
The MFI has not yet noticed an excessively widespread market in a one -day frame. Therefore, strong momentum up could carry XMR a little higher.
From April 9, Bitcoin [BTC] traded within a and Short -term.
During this time, Monero managed to collect 13.7%. These yields were at the same level Ethereum [ETH]. This relative force against BTC and ETH was another hint of bull force.
Holders can wait for a move to $ 400 and $ 500 so that they can realize more profits.
Resistance of liability: The information presented does not represent financial, investment, trading or other types of advice and are merely the opinion of the writer
