Monero (XMR) Daily Price Forecast – August 29

Fibo Quantum

 

XMR/USD Medium-term Trend: Bullish

Supply zones: $200.00, $210.00, $220.00
Demand zones: $60.00, $50.00, $40.00

XMR remains in a bullish trend in the medium-term outlook. The cryptocurrency rose to $108.22 in the upper supply area before close of market yesterday. The bearish pressure for a downward price movement was rejected as the bullish railroad sustained the bullish momentum.

XMR rose to $108.88 in the supply area earlier today. Price is above the two EMAs crossover and they are fanned apart. This implies strength in the context of the trend in this case the uptrend.

A minor pullback may occur due to the bears’ pressure but should signal uptrend continuation. $112.00 may be attained in the medium term as the bulls continue the journey.

XMR/USD Short-term Trend: Bullish

 

The cryptocurrency continued in its bullish trend in the short-term outlook. Price was up $108.22 in the supply area before the close of yesterday market. The 1-hour opening was bullish doji followed by a bullish candle and price was up at $108.88 in the supply area.

Price is forming higher highs and higher lows that rea peculiar to uptrend market. The bulls still in charge and new high may be attained as the bullish momentum return after the bears’ pullback.

 

 

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