Monero coin was originally forked from Bytecoin and is a secure, private, untraceable coin. Monero uses RingCT privacy technology. It provides privacy through unique features such as:
For senders (ring signature)
For recipients (stealth addresses)
Transaction (Ring CT (Confidential Transaction))
XMRUSD has performed well over the past two days.
A daily close above $182 would confirm further bullish activity.
XMRUSD has risen by over 15% in the past two days. The pair is well above its short-term (21 and 55 EMAs) and long-term moving averages. The highest price was $181.82 and is currently trading around $177.35.
A bullish invalidation can occur if the pair closes below $100. On the downside, short-term support is at $165. A drop below the objectives of $150/$120/$100 will signal a significant downtrend.
The immediate resistance is around $187. A break above this will signal a continuation of the bull market and a rally to $200, $216, and $245 is possible. Above $245, it can rise to $300.
With a price target of $250, buying at lows around $150 with a SL of around $100 would be a good idea.
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