Home Monero Price Analysis: XMR/USD breaks above double-top formation, trends over $75
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Monero Price Analysis: XMR/USD breaks above double-top formation, trends over $75

FX Street
Updated:
  • XMR/USD is currently trending in an upwards channel formation.
  • The MACD indicator and Elliott Oscillator shows increasing bullish sentiment.

XMR/USD daily chart

XMR/USD daily chart

XMR/USD bulls took charge of the market for the third consecutive day and broke above the double-top formation. In the early hours of Tuesday, XMR/USD went up from $74.90 to $76.62, going above the $75-level in the process. The market is hovering above the Ichimoku cloud, SMA 20, SMA 50 and SMA 200. The MACD and Elliott Oscillator both indicate increasing bullish sentiment. The RSI is trending inside the overbought zone, showing that bearish correction may be around the corner.
 

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