Monero | $XMR Macro Investment Outlook | Trade Opportunity
Knowledge is power
Report first published on: September 02, ‘22
Prices are based on: BINANCE | XMRUSDT SPOT Charts
LEGEND:
Accumulation/Buy/Long:
Green Zones: Untested/Fresh High-Quality Demand Zones
Yellow Zones: Tested/Not Fresh Low-Quality Demand Zones
Fluorescent Green Zones: Untested/Fresh Immediate Term High-Quality Demand Zones
Distribution/Sell/Short:
Red Zones: Untested/Fresh High-Quality Supply Zones
Orange Zones: Tested/Not Fresh Low-Quality Supply Zones
Rose Zones: Untested/Fresh Immediate Term High-Quality Supply Zones
$XMR surely is in a downward trend.
When we look at the monthly chart, we see more bold, longer red candlebars than green ones.
$XMR is below both the 200 Period (months) Mean Reversion Channel Mid-Line (yellow line) and the 20 Period (months) SMA (blue line).
$XMR is the only technically proven true privacy coin that makes it stand out from the crowd.
It is extremely devalued!
We shall be looking for opportunities to accumulate and HODL.
When we look at the weekly chart, the two prominent Untested/Fresh Immediate Term High-Quality Demand Zones to start accumulating are
[$73.60 - $70.70] & [$69.30 - $62.80].
However, should these two levels will not hold, there is the possibility of $XMR testing the wide [$72.20 - $25.10] zone!
Thus, accumulating in layers and not allocating all of the buy orders to the [$73.60 - $70.70] & [$69.30 - $62.80] levels wholly would be a better strategy.
The allocation of buy orders could be arranged as such:
25% @ [$73.60 - $70.70]
25% @ [$69.30 - $62.80]
25% @ [$62.80 - $38.20]
25% @ [$38.20 - $25.10]
The last 2 levels may be adjusted as $XMR travels close to them.
Should $XMR will not show the desire to travel south below the [$69.30 - $62.80] level, allocation of the remaining 50% of the buy orders could be directed to the [$73.60 - $70.70] & [$69.30 - $62.80] and above these two levels making sure $XMR has technically proven a bold departure from them.
At the time of writing this report, the prominent Untested/Fresh High-Quality Supply Zone is at [$252.60 - $269.20] representing a minimum of nearly 3.5x from $73.60 and a possible nearly 7.0x from $38.20.
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