Monero/U.S. dollar(XMRUSD) Elliott Wave Technical Analysis 26 September 23

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Elliott Wave Analysis TradingLounge Daily Chart, 26 September 23, 
Monero/U.S. dollar(XMRUSD)
XMRUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave (5)
Direction Next higher Degrees: Wave ((C)) of Zigzag
Wave Cancel invalid Level: 
Details:  The decline of wave (5) equal to wav (1) at 131

Monero/U.S. dollar(XMRUSD)Trading Strategy: Monero is still on a downtrend, due to the price is below the MA200 line also we have a wave C incomplete so the price has an opportunity to continue the decline.

Monero/U.S. dollar(XMRUSD)Technical Indicators: The price is below  the MA200 indicating a downtrend, RSI is a Bearish momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA





Elliott Wave Analysis TradingLounge 4H Chart,   26 September 23,  
Monero/U.S. dollar(XMRUSD)
XMRUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Triangle
Position: Wave D
Direction Next higher Degrees: Wave (4) of Impulse
Wave Cancel invalid Level: 
Details:  the  Movement within Triangle wave D equal 61.8% of wave B at 140.932

Monero/U.S. dollar(XMRUSD)Trading Strategy: Monero is still on a downtrend, due to the price is below the MA200 line also we have a wave C incomplete so the price has an opportunity to continue the decline

Monero/U.S. dollar(XMRUSD)Technical Indicators: The price is below  the MA200 indicating a downtrend, RSI is a Bearish momentum.