1 hour:
There is an uptrend visible from $101.2 – $105, with a downtrend from $110.5 – $105.8. Resistance levels are set at $111.8 and $117.5, and support lines are visible at $104.4 and $101.
The RSI is tending towards oversold zone and may present a buying opportunity.
The RVGI is demonstrating a bullish crossover recently.
The Parabolic SAR is showing a bearish signal, as seen by the presence of the dots below the candlesticks.
1 day:
The long-term outlook for Monero shows a support uptrend from the $101.7 – $104.9. There is also a dominant downtrend from May reflected in price movement from $292.7 – $110.1. Resistances are set at $167.2 and $137.8, with a long-term support holding the price above the $99.6 mark.
The MACD is set for a bearish crossover, as the line seems to be heading downwards and crossing over the signal.
The Awesome Oscillator is bullish, as seen by the red spikes on the indicator.
Conclusion:
The meeting of the price line to the $100 resistance level might trigger a bullish break upwards. This could provide a break from the sideways movement enforced upon the market.
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