The past month has been tumultuous for XMR. After many cryptocurrency exchanges delisted XMR, the demand for XMR surged. However, the price soon started falling and the downtrend prevailed till 28th January. Thereafter, there was a price uptrend again. Past Week’s Trends in XMR In the past week, the XMR price has been on an upswing. On 2nd February, the closing price of XMR was $151.19. In the last 24 hours, XMR price is fluctuating between $143.65 – $155.07. https://ift.tt/2MQNAwm Days Ahead for XMR The OBV and A/D indicators are rising. As a result, the price is also surging. Accumulations outweigh distributions. Therefore, buying pressures are dominating the XMR market. Thus, we can expect the price to follow a bullish trend. The RSI indicator is currently at 49%. A few hours back, it was above 70%, implying that XMR was being overbought. The RSI and the price are moving in the opposite direction. RSI is showing strong selling pressure. Thus, we can say that the current price uptick is weakening. There may be a trend reversal soon. Both the MACD and signal lines are above the zero line. Their positive values indicate that the XMR price uptrend will continue. But, a bearish crossover by MACD line over the signal line a few minutes back indicates mounting selling pressures. Moreover, the values of MACD and signal lines are steadily falling. So, maybe a trend reversal is slated to happen today. The Aroon indicator shows that the Aroon-up line has just crossed below the Aroon-down line. This is again a bearish signal implying rising selling pressures. The ADX indicator has fallen below 20 indicating that the price uptrend is weakening. The AO indicator is positive. But, it is also falling and may soon fall below the zero line and become negative. Thus, most of the oscillators are giving indications of a trend reversal. However, price continues to rise but this uptrend may not be sustainable. Currently, XMR is trading at $154.70 – just above the first Fibonacci resistance level of $154.33. The price is struggling to reach the $155 mark indicating rising selling pressures. The uptrend will sustain only if the price manages to break out of the second Fibonacci resistance level of $157.03. If the price starts falling and reaches the first Fibonacci support level of $145.61, then a downtrend is confirmed.
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