XMR seems to be coiling here as it sits on the demand zone accumulating for a push higher. Volume has scaled back recently so we could very well see some volatility return to the coin once volume returns.
We are, however, below both EMAs and have found resistance on the last touch at the fast-moving EMA. This OB has been a very strong level if we look to the left of this box so XMR should find support here before moving up. If Bitcoin could break above resistance here, it would most likely drag everything else up with it, which would push us up into supply.
In addition, XMR just released its bulletproof upgrade, which has seen fees for withdrawals drop substantially near 0.
Scaling buys in this zone right now is beneficial with stops below the last low at the bottom of the OB.
Thanks guys!
We are, however, below both EMAs and have found resistance on the last touch at the fast-moving EMA. This OB has been a very strong level if we look to the left of this box so XMR should find support here before moving up. If Bitcoin could break above resistance here, it would most likely drag everything else up with it, which would push us up into supply.
In addition, XMR just released its bulletproof upgrade, which has seen fees for withdrawals drop substantially near 0.
Scaling buys in this zone right now is beneficial with stops below the last low at the bottom of the OB.
Thanks guys!