Monero price analysis: XMR/USD is bullish for the next 24 hours

TL; DR Breakdown On the 24-hour time frame, the daily Monero price analysis indicates bulish sentiments.The daily range is from $244 to $251 daily.On the 1-hour chart, our MACD histogram displays short red bars. XMR/USD picked off the five-day Litecoin price analysis chart while the bulls had taken control of the market. The coin traded in a rising wedge forming several triangles. XMR has recorded a 25 percent gain in the last week. On the 5-day price analysis chart, the green bars seem to be more than the red ones. This is a good indication that the XMR/USD market is trading in bullish momentum. On the daily chart, the XMR/USD has formed a triangle descending channel, which has been developing since October. If we assume that this trend continues and we see a break into the upside of the channel’s resistance at $250, we can see another strong run-up in prices. At this point in time (and for quite some time now), there is simply too much uncertainty across the globe for solid investment decisions like these – so proceed with caution when investing in XMR or any other coin/asset. Don’t bet more than you are prepared to lose Our outlook for Monero is negative, and we expect it to weaken further. We anticipate the decline to continue throughout the day, with a first bear target of $210 set. This is in case the buyers don’t consolidate enough power to withstand any future upside rejections. Source: Coin36...