XMR/USD chart - Trading View
Exchange - Bitfinex
Support: 53.46 (5-DMA); Resistance: 56.26 (21-EMA)
Technical Analysis: Bias turning bullish
Monero has resumed upside after brief pause on Thursday's trade, bias has turned slightly bullish.
XMR/USD was trading 1.84% higher at 55.371 at 07:00 GMT after closing 2.77% lower in the previous session.
Upside finds stiff resistance at 21-EMA at 56.26, break above will fuel further upside in the pair.
The pair is trading in a 'Descending Triangle' pattern and technical indicators are turning slightly bullish.
5-DMA is now biased higher and Stochs and RSI have rolled over from oversold levels and are biased higher.
Breakout at 21-EMA will see further gains. Next hurdles on the upside lie at 55-EMA 59.40 ahead of Triangle top at 61.35.
