Monero (XMR) trading cryptocurrency market update for Apr 16, 2019
Apr 16, 2019 --- Altcoins
Despite what has been sporadic and trendless price action over the course of this week so far, SCMR has begun to print a blue reversal signal on the new 3-day candle as price has bounced back above 0.013 today also sparking a small but bullish candle formation while strong dynamic support continues to build just below the market, all of which should help the bulls moving forward. So should the fact that price is back inside the longer-term demand area while momentum gets close to recharged, so perhaps a move back to the top of the range around 0.014 is in the cards in the not too distant future. That said, further weakness would not surprise us either considering the bearish state of the moving averages, the volume indications and the Ichimoku Cloud, so we'll stay on the sidelines until further notice.
Short term Members ProTrade - We will consider a small LONG position on a move back down to the 0.0000xxx - 0.0000xxx area with a stop around 0.0000xxx and a target of 0.0000xx.
Medium-term Members ProTrade - We will consider a LONG position on a selloff back down to the 0.00000xx - 0.00000xx area with a stop around 0.00000xx and a target of 0.000030..
Long term Members ProTrade - We will consider a LONG position on a move back down to the 0.0000000 - 0.00000xx area with a stop around 0.00000xx and a target of 0.0000xx
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