Monero Prices Trying To Recover Inside Ascending Pennant

Monero (XMR) prices on XMR/BTC and XMR/USD still trading within the ascending pennant. But the sentiment is still bear bias but slowing down momentum could make way for a potential rally.

XMR/BTC is on the early recovery from the recent January 5 meltdown. Currently settling on 12.174996 on the upper level of the trending pattern. Going forward, it still look for more cue from the greenback propensity. Meanwhile, i am more positive on XMR/BTC pair. It is currently hovering on the near bottom of the pennant channel at 0.012962. A potential firm support zone at 0.012026, exactly 0.5 Fibonacci retracement could hold. Whereas, the 0.236 Fibonacci retracement at 0.016963btc price would be a major challenge for any reversal upswing. Given the current cryptocoins hype and the stability of Monero ecology development, the long term fundamental is overall positive.

Monero Prices - technical analysis january 22 2017

Monero Prices - technical analysis january 22 2017

BTC Exchanges With Monero XMR Trading
šŸ’— BitMex
ā™„ Hit BTC
ā™¦ Poloniex
šŸ‘‰ Kraken

Remember: The author is a trader who is subject to all manner of error in judgement. Do your own research, and be prepared to take full responsibility for your own trades.

Please do your own due diligence before making any investment decision. This article should not serve as investment advice. This post is mainly as reference and tutorial for trading on possible cryptocurrency breakout.