XMR/USD continues consolidation below the $69-level

Fibo Quantum

  • XMR/USD is trending in a downward channel formation and below the SMA 20 and SMA 50 curves.
  • The Elliott Oscillator has had a green session following 17 straight red sessions.

XMR/USD daily chart

XMR/USD went up from $66 to $67.45 as price consolidation below the $69-level continued this Wednesday. The price is trending in a downward channel formation and below the SMA 20 and SMA 50 curves. The SMA 50 is on course of crossing over the SMA 20, which is a bearish sign. The MACD indicator shows decreasing bearish momentum, while the Elliott Oscillator has had a green session following 17 straight red sessions. Finally, the RSI indicator has gone up slightly from 39.33 to 41.25 in the early hours of Wednesday, following bullish price action.