Price Analysis of TRX/USD and XMR/USD
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Price Analysis of TRX/USD and XMR/USD

January 16, 2020      Cryptoknowmics

The price of TRX was able to surge over the horizontal hurdle at $0.0163957 on January 14 and there was an extension of its gains today. There was the completion of a bullish crossover by the moving averages while the RSI is now in the overbought zone, suggesting that buyers are in control.

The ability of the buyers to maintain the price of TRX/USD pair over $0.0163957 for 3 days could bring about a rally to $0.0234.

On the other hand, the ability of the sellers to take the price under $0.0163957 could lead to a decline to the 20-day EMA. If successful, it will show that the bears remain active at higher levels.

As for XMR/USD pair, the price was able to bounce off the support at $57.1199 on January 14 and was able to break over the overhead barrier at $67.02 today. Nevertheless, the buyers are yet to maintain the price over $67.02, suggesting the activity of the bears at higher levels.

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The ability of the price to turn down from its levels at the moment could make the XMR/USD pair to stay in a range from $57.1199 to $67.02 within the coming few days. It will be a good thing to have a breakout and close over $67.02. If the price moves over this level, there could be a rally to $82 and even an extension to $90.

The bullish perspective will not hold following a successful sinking of the price under $57.1199. Traders need to hold on for sustenance over $67.02 before deciding where to place a trade.

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