Despite the overall bearish sentiment in the market due to the ongoing war, this is my extremely bullish analysis on XMR.
My entry was at $342, after observing the $300 level being respected twice, confirmed by two strong bullish candles. This reaction indicated solid demand at that level.
My long-term targets are:
Target 1: $953
Target 2: $1151
Target 3: $1719
This is a long-term setup. On the 4H timeframe, price is trading above the 66 moving average, while on the daily timeframe it is still below the 66 MA. This is an important technical point because the daily MA may act as resistance, and if price fails to break it, the downtrend could continue. However, if price successfully breaks and holds above this level, there is a high probability that it will start moving toward the targets mentioned above.
At the moment, price is reacting to a 4H demand zone, which could either push the price higher immediately or lead to a retest of the 4H structure before continuing upward.
The 4H RSI is currently overbought, and while the broader market recently experienced a sharp drop, XMR reacted very little to the negative sentiment. This relative strength suggests that the asset remains structurally bullish, which also aligns with the overall weekly trend.
Looking at the bigger picture, as privacy becomes an increasingly important topic, I believe Monero (XMR) could play a significant role in that space, potentially making it a highly sought-after asset in the future.
This projection represents my personal view based on this chart, which I consider one of the cleanest technical structures in the market right now. In my opinion, there are definitely opportunities when trading XMR.
Have a great one.
My entry was at $342, after observing the $300 level being respected twice, confirmed by two strong bullish candles. This reaction indicated solid demand at that level.
My long-term targets are:
Target 1: $953
Target 2: $1151
Target 3: $1719
This is a long-term setup. On the 4H timeframe, price is trading above the 66 moving average, while on the daily timeframe it is still below the 66 MA. This is an important technical point because the daily MA may act as resistance, and if price fails to break it, the downtrend could continue. However, if price successfully breaks and holds above this level, there is a high probability that it will start moving toward the targets mentioned above.
At the moment, price is reacting to a 4H demand zone, which could either push the price higher immediately or lead to a retest of the 4H structure before continuing upward.
The 4H RSI is currently overbought, and while the broader market recently experienced a sharp drop, XMR reacted very little to the negative sentiment. This relative strength suggests that the asset remains structurally bullish, which also aligns with the overall weekly trend.
Looking at the bigger picture, as privacy becomes an increasingly important topic, I believe Monero (XMR) could play a significant role in that space, potentially making it a highly sought-after asset in the future.
This projection represents my personal view based on this chart, which I consider one of the cleanest technical structures in the market right now. In my opinion, there are definitely opportunities when trading XMR.
Have a great one.
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน