Supply zones: $150.00, $160.00, $170.00
Demand zones: $100.00, $90.00, $80.00
Monero resumes ranging in the medium-term perspective. Momentum indicator that comparing the closing price of the security to the range of its prices over a certain period of time for yesterday, growth their strength and pushed down the price to $119.00 in the desired area.
There is an opposite direction sign on the formation of railway track chart where indicates downside. In this instance the starting point of the advancement. Combining with strong pressure, the bulls momentum may perceptibly boost.
In the medium term, the origination of bullish candles and a close aloft the 10-day EMA will place the bulls target at $129.00 in the higher supply field.
The stochastic oscillator still has not undefined and in the magnify region at %21. Just before the movement in a selective direction, this information suggests minor consolidation. On the long run its likely to be supported for an upward momentum.
For the site of upper supply, range still has validation at $129.00 and $120.00 for the lower request area unchallengeable. During this period of consolidation , profit is available to reach out if there is a good ranging strategic movements adopted.
XMR/USD Short-term Trend: Bullish
In the short term interpretation upward trend still stands for the cryptocurrency. The loss of gathered momentum by the bears at $119.00 in the demand area after dropping price value from $126.00 in the supply area return with expectation of rise. Leaving of large submerge candle reaffirms this.
Upward trend load already made a point by setting the price above the 10-day EMA.
The Stochastic Oscillator signal points up by that mean it is avoiding the overestimated region. In the short-term this shows climbing up in monero price movement.
Price predictions in 2018 for Monero: Monero is an anonymous cryptocurrency. Most of other cryptocurrencies are considered as pseudonymous. That is why this cryptocurrency has been rising and shining with a lot of traction as well.
Similar to most of other cryptocurrencies, in the last year it also levelled up on the perspective of value. The essential question remains unanswered which is it still worth to buy.
Price Predictions for Monero in 2018:
By the end of 2018 forecast predicts around $650. More than that for five year forevast is close to $2000. This notion of cryptocurrency confirms that even this level of appreciation is significant.
Principal behind this is obviously blockchain and cryptocurrency aspects matter the most for this currency and it is completely anonymous in the cryptocurrency world.
There were some trails made by law enforcement agencies on attempting to find transacting parties but they failed. Also proves this particular cryptocurrency has vast potential. People in search for complete anonymous cryptocurrencies when it comes to transact.
Additionaly, it has fallen from the peak point similar to other cryptocurrencies. Consequently it is a good idea to buy it at current prive values. It will make sure you will be able to collect good returns in the future.
If the anonymity of cryptocurrencies are no matter anymore in the near future, only in this scenario you will not be able to get some good results. As long is it is anonymous , you will get appreciation in this major immense.
Besides, its worthy to point cryptocurrency regulations can be a real theat to this specific cryptocurrency. Actually this is the only indicator that you need to consider before investing. Considering it is decentralized and not jurisdicted by a single community, the future seems very shiny for this cryptocurrency.
Hence, if you are in search for a cryptocurrency to pour some money on purpose of invest for the next couple years, Monero surely seems as a good option and it can drastically alter your portfolio by making it more valuable.