XMRUSD Elliott Wave Technical Analysis 30 November 2022
4 Hour
Elliott Wave Analysis TradingLounge 4H Chart, 30 November 2022,
Monero (XMRUSD)
XMRUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse or Diagonal
Position: Wave 1
Direction Next higher Degrees: Wave III of Motive
Details: Rise of the First Wave Upon completion, the price will drop again in the second wave. but must not reverse below 116
Wave Cancel invalid Level: 116
Monero (XMRUSD) Trading Strategy: Overall, the XMR is continuing to rise, but the overlapping price structure shows pressure from selling pressure. This may cause the price to correct again but must not reverse below 116.
Monero (XMRUSD) Technical Indicators: The price is above the MA200 MA50, indicating an uptrend. The Wave oscillator above Zero-Line Momentum is Bullish
Daily
Elliott Wave Analysis TradingLounge Daily Chart, 30 November 2022,
Monero (XMRUSD)
XMRUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse or Diagonal
Position: Wave 1
Direction Next higher Degrees: Wave III of Motive
Details: Rise of the First Wave Upon completion, the price will drop again in the second wave. but must not reverse below 116
Wave Cancel invalid Level: 116
Monero (XMRUSD) Trading Strategy: Overall XMR is continuing to rise, but since the price structure is still in the first wave in an uptrend then the price still has a chance to correct in the second wave. Moreover, the price is below the MA200 and MA50 lines, still pressured by selling pressure. Trades should wait for the correction to complete in the second wave.
Monero (XMRUSD)Technical Indicators: The price is ฺbelow the MA200 MA50, indicating a downtrend. The Wave oscillator slows down momentum and may is Change
