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Monero (XMRUSD) Elliott Wave Technical Analysis 30 November 2022


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Eliott 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 secondwave. but must not reverse below 116

Wave Cancel invalid Level:116

Monero (XMRUSD) Trading Strategy: Overall XMR is continuing to rise, but since theprice structure is still in the first wave in an uptrend then the price still has a chanceto correct in the second wave. Moreover, the price is below the MA200 and MA50lines, still pressured by selling pressure. Trades should wait for the correction tocomplete 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

TradingLounge Analyst: Kittiampon Somboonsod

 

1287995436_XMRDay.thumb.png.467b99e5a4275005a9d45f50490631d4.png

 

 

 

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 over lapping price structure shows pressure from selling pressure. This may causethe 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.

1314397240_XMRh4.thumb.png.53c66a3841d06805b9029555852fdc9c.png

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