Home Daily Analysis Crypto Market sentiment Monero Posed for More Gains

Monero Posed for More Gains

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Monero is moving very bullish, following the steps of Bitcoin. The price moves in a steep trend, as shown by the ascending trendline. Today it has appreciated 6.6%.


Every aspect of the daily chart seems to match with a continuation of the trend, except for the Stochastics, which shows overbought levels. Hence, it might be wise to wait for a pullback to get in.

The current support of 87.9 is a right invalidation level if the price closes below it. The initial target is $107.6 and a second target can be set at its last top of 119.7. The reward to risk ratio for the first target is about 1.5, and the second target shows a reward of 3.

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