Monero (XMR) Daily Price Forecast – August 21

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MONERO ST 15 1024x537 - Monero (XMR) Daily Price Forecast – August 21

XMR/USD Medium-term Trend: Ranging

Supply zones: $200.00, $210.00, $220.00
Demand zones: $60.00, $50.00, $40.00

XMR continues in the range in the medium-term outlook. The strong bearish pressure pushed price from $102.60 in the supply area down to $92.30 in the demand area within the range before the close of yesterday market.

The 4-hour opening candle was bullish at $92.37 and price was pushed up to $95.99 in the supply area. The formation of three bullish solder candles connote the bears’ strong presence within the range

XMR is ranging and trading between $100.00 in the upper supply area and at $80.81 in the lower demand area of the range. Patience will be a good strategy to adopt as the coin ranges to allow for a breakout or breakdown before taking a position

XMR/USD Short-term Trend: Ranging

MONERO ST 14 1024x537 - Monero (XMR) Daily Price Forecast – August 21

The cryptocurrency is still ranging in the short-term outlook. $92.30 in the demand area was the point the bearish pressure pushed the coin to before closing of yesterday market.

The bullish 1-hour opening candle $92.37 pushed price to $95.99 within the range and below the 50-EMA.

The cryptocurrency is in consolidation and trading between $99.33 in the upper supply area and at $88.91 in the lower demand area of the range. Patience will be a good strategy to adopt as the coin ranges to allow for a breakout or breakdown before taking a position.

 

 

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