[Technical Analysis] XMR/USD Market December 18, 2022

wahyunahrul (70)Private First Classin Account Booster 👍 • 2 years ago (edited)

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!!

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Monero (XMR) Analysis

Today, December 18, 2022, I will try to technically analyze the price movement of Monero.

SOURCE: TradingView

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.

SOURCE: TradingView

Even so, the EMA indicator still shows the Death Cross that occurred a few days before and there is still no sign of a golden cross in the future.

SOURCE: TradingView

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.

SOURCE: TradingView

But, the RSI gives a signal that there are no oversold moments that occur in XMR and even the RSI line is already above the lower band line which is a positive signal.

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Disclaimer:

This analysis is not an invitation to buy or sell any asset, it is just a short analysis intended for learning. Remember! don't use the analysis I did as a benchmark in investing or trading, always do your own analysis and research first before making any decisions.

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#cryptocurrency #monero #xmr #privacy #technical-analysis #chart