Monero (XMR) Bullish Formation Still Intact Despite Market Correction

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In Brief
  • XMR has broken out from a long-term descending resistance line.

  • Daily technical indicators are bullish.

  • XMR/BTC is attempting to break out from ₿0.008.

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The Monero (XMR) price decreased sharply during the marketwide crash on Sept 2-4. However, its bullish formation is still intact, and technical indicators suggest that a reversal is brewing. XMR Long-Term Breakout In July, the XMR price broke out from a descending resistance line that had been in place since June 2018. The increase continued until Aug 21, when the price reached a high
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Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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