Monero (XMR) trading cryptocurrency market update for Jul 10, 2019

Jul 11, 2019 --- Altcoins


Daily Chart

Monero v's Bitcoin broke convincingly below the 0.008 level over the past 24 hours as expected reaching a local low of 0.007537 on yet another red SCMR signal and still fairly bearish candle formation while market structure remains broken and heavy, all pointing to a legitimate breakdown below the 0.0075 local and regional low in the not too distant future. The falling moving averages, the strong dynamic resistance overhead, the still lackluster momentum and volume indications, and the increasingly bearish Ichimoku Cloud all confirm the bearish bias, so we want to stay on the sidelines until further notice. 

Short term Members ProTrade - No trade idea right now

Medium-term Members ProTrade - We will consider a LONG position on a selloff down to the 0.00xx - 0.00xx area with a stop around 0.00xx and a target of 0.0xx.

Long term Members ProTrade - No trade idea right now

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