Blockchain Revolution Series: Tencent Holdings To Invest Huge For Tech-Infra Including Blockchain, AI & Cyber Security
Crypto Technicals: Bitcoin Bulls Resume Upon 7-DMA Support, Heads-Up On Short Liquidations And Long Hedges
FxWirePro: AUD/USD tests 'Channel Top' resistance at 0.6980, overbought oscillators warrant some caution
Crypto-Technicals: Bitcoin Bulls Shrug-Off Double Top As May’20 Extends 3-Months’ Rallies – Uphold Long Hedges
Cryptocurrency Derivatives Series: Bitcoin Reclaims $10k, Uphold Long Hedges As CME Data And Engulfing Pattern Indicate Uptrend Continuation
Digital Currency Revolution Series: Heads-Up On Bitcoin Block-Halving Event, Long Hedges Intact As BTC Buyers Returned
Cryptocurrency Derivatives Series: Bitcoin Disrupts Double Top Formation & Rebounded To 9.5k – Uphold Long Hedges
Digital Currency Revolution Series: Goldman Sachs Exhibits Reluctance In Bitcoin For Asset Portfolio
Crypto Technicals: XMR/USD holds above trendline support, 'Bullish Divergence' raises scope for upside
XMR/USD chart - Trading View
Exchange - Kraken
Support: 49.75 (Trendline); Resistance: 57.17 (21-EMA)
Technical Analysis: Bias bearish
Monero (XMR) was trading 4.15% higher on the day at 54.24 at 11:10 GMT.
Major trend in the pair has been bearish and the pair hit 7-month lows at 51.75 on Tuesday's trade.
Volatility is very low, 'Bullish Divergence' raises scope for some upside.
Oscillators are also at oversold levels with scope for rollover into neutral.
Price action has broken above 5-DMA and finds next major resistance at 21-EMA at 57.18.
Strong support is seen at 49.75 (falling trendline). Break below will see more downside.