Monero/ U.S. Dollar (XMRUSD) Elliott Wave Analysis Daily Chart

XMRUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave ((3))

Direction at Next Higher Degrees: Wave I of Impulse

Wave Cancel Invalid Level: N/A

Details: The price is in an upward trajectory, aligning with the increase in Wave ((3)).

Monero/ U.S. Dollar (XMRUSD) Trading Strategy

• Wave 3 rally is expected to target the 291.857 level.
• Consider taking advantage of short-term corrections to identify potential consolidation opportunities.

Monero/ U.S. Dollar (XMRUSD) Technical Indicators

• The price is trading above the 200-day Moving Average (MA200), signaling an uptrend.
• The Wave Oscillator highlights bullish momentum, reinforcing the positive price action.

Monero/ U.S. Dollar (XMRUSD) Elliott Wave Analysis 4-Hour Chart

XMRUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave ((3))

Direction at Next Higher Degrees: Wave I of Impulse

Wave Cancel Invalid Level: N/A

Details: The momentum of Wave ((3)) remains strong.

Monero/ U.S. Dollar (XMRUSD) Trading Strategy

• Similar to the daily chart, the wave 3 rally is projected to test the 291.857 resistance level.
• Look for potential consolidation opportunities during short-term corrections.

Monero/ U.S. Dollar (XMRUSD) Technical Indicators

• The price is maintaining a position above the 200-period Moving Average (MA200), suggesting continued upward momentum.
• The Wave Oscillator confirms bullish momentum, supporting further growth potential.

Technical Analyst: Kittiampon Somboonsod

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