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Crypto Technicals: XMR/USD pauses shy of 110-EMA (67.251), break above to fuel more gains

 

XMR/USD chart - Trading View 

Exchange - Bitfinex

Support: 62.481 (55-EMA); Resistance: 67.251 (110-EMA)

Technical Analysis: Bias bullish

XMR/USD has paused upside shy of 110-EMA which offers stiff resistance at 67.251.

The pair was trading 1.93% lower on the day at 64.172 at around 08:00 GMT.

Near-term bias as indicated by GMMA has shifted to bullish with bullish crossover of short-term MAs over longer-term MAs.

Further, occurrence of 'Bullish Divergence' on Stochs and RSI on the daily charts raises scope for upside.

Volatility is also rising and break above 110-EMA will take the pair higher. Test of 200-DMA at 77.949 likely.

Failure to break past 110-EMA resistance negates near-term bullish bias. 

By Anupama Grandhi
  • Market Data
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