CryptocurrenciesX

Monero’s XMR Confirms a Break Above Ichimoku Cloud versus USD

By 09/03/2018 No Comments


Monero’s token, XMR has been bumped up to the 10th largest cryptocurrency by market capitalization. It saw a 35% gain in the past seven days. With the surge, it also broke above the important daily Ichimoku cloud. Here’s an overview.

Get on Waiting List for Cryptocurrency Investing for Dummies Book >>

Monero’s XMR Overview

Monero has been getting crypto miner’s attention as one of the most profitable cryptos to mine in the past few months as Bitcoin mining profit has been sliding. It also gained recognition as one of the strongest privacy coins, because it’s designed in a way to ensure that all XMR transactions are 100% unlinkable and untraceable. But one of the reasons behind recent hype around Monero may be because The Economist dropped its name in one of its recent articles, along with other cryptocurrencies including Dash, Litecoin, and Ether.

Get on Waiting List for Cryptocurrency Investing for Dummies Book >>

Risks of Cryptocurrency Investing - Cryptocurrency Investing for Dummies book cover

Cryptocurrency Investing for Dummies

Get my Updates. Free.

XMR/USD Technical Analysis

From a technical standpoint, the hype looks legit though, as XMR/USD just confirmed a break above the daily Ichimoku cloud, and completed a saucer bottom bullish reversal chart pattern when it broke above the 120 pivot point. While we could see a temporary pullback towards the cloud as we normally do, it looks like XMR could reach the 76% Fibonacci retracement level of $163 if the bulls continue to ride on this new uptrend.

XMR/USD Breaks Above Ichimoku Cloud

XMR/USD Breaks Above Ichimoku Cloud

Now I want to hear from you. Let me know about your EOS positioning in the comments. Join our investing group to get the latest trading signals, stop-loss, take-profit and other limit order ideas on cryptocurrencies, forex and stocks. Our comprehensive signals will help you create a unique strategy for you, according to your risk tolerance.

As the 4th point of the IDDA technique, you must calculate your risk tolerance before deciding on the investment strategy that is suitable for your portfolio.

Don’t forget to complete your risk management due-diligence before developing your investment strategy.

Invest responsibly,

Kiana

Leave a Reply

 

 

  • Economic Calendar
  • Terms of Service
  • Privacy Policy
  • Disclaimer:Investing in the financial markets involves a risk of loss.
    You should only invest the money you can afford to lose.

    Invest Diva (KPHR Capital, LLC) and Kiana Danial are NOT a financial advisor. Nothing said on investdiva.com by Kiana Danial or other contributors is meant to be a recommendation to buy or sell any financial instrument.