MONERO Price Prediction: Long-term (XMR) Value Forecast – July 13

Cyber Threatscape Says Crypto Mining Malware Using Monero (XMR) Will Grow in 2019

• The bears are back in control of the market
• Traders may consider selling with bearish candle reversal pattern as confirmation

XMR/USD Long-term Trend: Bearish

Supply zone: $140.00, $180.00, $220.00
Demand zone: $40.00, $20.00, $10.00

XMR is in a bearish trend in its long-term outlook. The week began on a bullish note a continuation of the previous upward price movement with a large candle at $94.44. The trendline was broken and price rose initially to $107.69 and later to $108.64 in the supply area before momentum loss on 9th July.

The bears gradual returned was a drop of the coin to $9745. Increased bearish momentum led to the breakdown at the support in the trendline and the two EMA. XMRUSD plunges down to $87.00 in the demand area.

A retest of the broken trendline as the bulls pushed price back up to $98.34. This was a market correction and confirmation of the bearish continuation in the long-term.

Price is below the two EMA and the stochastic oscillator signal points down at 40% which suggest downward momentum in price.

$80.00, a key demand area may be retested as the journey down south continues in the dew week.

The views and opinion as expressed here do not reflect that of and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez Mustapha

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