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Elliott Wave Analysis TradingLounge Daily Chart, 10 March 2023.  

Monero/U.S.dollar(XMRUSD)

XMRUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Flat

Position: Wave (C)

Direction Next higher Degrees: Wave ((2)) of Motive

Details: Retracement of wave ((2)) equal to .786 x Length wave ((1)) at 131.409

Wave Cancel invalid Level: 116

Monero/U.S. Dollar (XMRUSD) Trading Strategy: Monero continued to decline from the 188.120 level and descended below the MA200 line, making it a clear downtrend. But even so, the declining price structure is a corrective wave pattern. We still expect a retracement in the second wave. before rising again in the third wave where the level of 116.070 must not be broken to support this idea.

Monero/U.S. Dollar(XMRUSD) Technical Indicators: The price is below the MA200 indicating a downtrend. The wave oscillators below Zero-Line momentum are bearish.

Analyst: Kittiampon Somboonsod

Elliott Wave Analysis TradingLounge 4H Chart, 10 March 2023.  

Monero/U.S. Dollar (XMRUSD)

XMRUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Flat

Position: Wave (C)

Direction Next higher Degrees: Wave ((2)) of Motive

Details: Retracement of wave ((2)) equal to .786 x Length wave ((1)) at 131.409

Wave Cancel invalid Level: 116

Monero/U.S. Dollar (XMRUSD) Trading Strategy: Monero continued to decline from the 188.120 level and descended below the MA200 line, making it a clear downtrend. But even so, the declining price structure is a corrective wave pattern. We still expect a retracement in the second wave. before rising again in the third wave where the level of 116.070 must not be broken to support this idea.

Monero/U.S. Dollar (XMRUSD) Technical Indicators: The price is below the MA200 indicating a downtrend. The wave oscillators below Zero-Line momentum are bearish.

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