Home XMR/USD: Breakout on the horizon as bulls test $43.50 resistance line
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XMR/USD: Breakout on the horizon as bulls test $43.50 resistance line

FX Street
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  • XMR/USD market on the verge of a breakout as the bulls take over.
  • Bulls need to break past the resistance at  $43.50 in the short term.

After a prolonged period of bearish domination, XMR/USD may be on the verge of a bullish breakout. The bulls have to break through resistance at $43.50 to establish bullish momentum.  

XMR/USD daily chart

XMR/USD has had a bullish breakout from the triangle. The upward trending line has acted as a strong line of support for XMR/USD in recent times. Currently, the bulls are testing the $43.50 resistance band. If they manage to break past that, they should aim for the resistance at $45. The market doesn’t seem to possess the momentum required to test the $45 resistance band as of right now.
 

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