Monero - Are the Bears going to win this⁉️
💎The long-term trend for Monero is bullish as long as we hold the highlighted support zone. But are bulls strong enough to defend it?
💎Today XMR/USDT is back at the major monthly support zone after a heavy selloff this week. The selling pressure is rising once again with a big volume which suggests that bears are trying to push XMR below the demand zone.
💎Right now, the risk/reward buying opportunity is very good, but the probability of holding this uptrend to higher targets of 20-50%+ remains low. For a professional trade setup, there must be a combination of a good RR and a high probability of a trend, and we are waiting for such a confirmation before we take an action.
💎Soon we will find out if support is respected and MACD forms a bullish divergence or breaks lower. We are getting ready for a huge ...
💎Today XMR/USDT is back at the major monthly support zone after a heavy selloff this week. The selling pressure is rising once again with a big volume which suggests that bears are trying to push XMR below the demand zone.
💎Right now, the risk/reward buying opportunity is very good, but the probability of holding this uptrend to higher targets of 20-50%+ remains low. For a professional trade setup, there must be a combination of a good RR and a high probability of a trend, and we are waiting for such a confirmation before we take an action.
💎Soon we will find out if support is respected and MACD forms a bullish divergence or breaks lower. We are getting ready for a huge ...