Technical Analysis and Market Entry: Monero (XMR/USD) – Routine Price Dip Presents Fresh Buying Opportunities

Monero

Monero price action has been on the decline since the latter stages of June, after running out of much upside momentum. XMR/USD is on a stable path to recovery in 2019, after facing such a gruelling 2019. The bulls have rallied as much as 200% since the beginning of the year, from lows of $43 up to $131. Given the noted cooling late last month, XMR is now at the time of writing seen up some 93%.XMR/USD is being supported to the upside by an ascending trend line, which has been in play since March 2019. On each occasion the price has come into contact with the support, it has driven XMR further north, giving the bulls a required boost. In proximity to the detailed trend line, an additional confluence of support is observed in the $84-$78 price range. The noted area has been providing needed comfort since 14th May,…

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