Monero (XMR:USDT) Outlook!
Hey Monero Maximalists
Moving on to the XMR/USDT cryptocurrency pair, price has rebounded today from the local low of $51 up to the $62 area. Yesterday’s bullish move in XMR/USDT has largely been a result of riding the wave up along with BTC/USD in a slower fashion, in spite of the price decline in XMR/BTC.
If price falls below the local low of $51, there is more support in the $43-50 area, and another support level at the December 2018 low of $38.50, as seen in the 2-week XMR/USDT logarithmic chart above.
My preferred outlook for XMR/USDT is for it to form a higher low (which may already be in) above $38.50 before shifting back to bullish and moving up in the coming months as we go into the 2020 Bitcoin block reward halving event, which I believe will spark renewed bullish activity in the crypto space overall. As I’ve said many times before, I believe these are excellent times to be accumulating Monero (XMR) which we consider to be very undervalued at these levels.
Stay ahead of the masses,
Seth Maniscalco
Founder, Crypto Wealth Coach LLC
Owner, Modern Wealth Management LP
CryptoWealthCoach.com/VIP
Moving on to the XMR/USDT cryptocurrency pair, price has rebounded today from the local low of $51 up to the $62 area. Yesterday’s bullish move in XMR/USDT has largely been a result of riding the wave up along with BTC/USD in a slower fashion, in spite of the price decline in XMR/BTC.
If price falls below the local low of $51, there is more support in the $43-50 area, and another support level at the December 2018 low of $38.50, as seen in the 2-week XMR/USDT logarithmic chart above.
My preferred outlook for XMR/USDT is for it to form a higher low (which may already be in) above $38.50 before shifting back to bullish and moving up in the coming months as we go into the 2020 Bitcoin block reward halving event, which I believe will spark renewed bullish activity in the crypto space overall. As I’ve said many times before, I believe these are excellent times to be accumulating Monero (XMR) which we consider to be very undervalued at these levels.
Stay ahead of the masses,
Seth Maniscalco
Founder, Crypto Wealth Coach LLC
Owner, Modern Wealth Management LP
CryptoWealthCoach.com/VIP
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