XMR/BTC. General analysis of the coin rate on the basis of the exchange chart.

Hello, gentlemen..

For quite a long time we did not touch the XMR coin.
First of all, I want to understand whether this coin has a future. There are a number of fundamental things that allow us to be optimistic about the future. The main one is that "Monero" is a known brand, which is widely used for anonymous transactions.
On the other hand, there are trends in the world of cryptocurrencies in which anonymity is not approved. For example, the policy of some exchanges (especially Japanese) prohibits anonymous cryptocurrencies.

I want to consider the price movement of XMR in the near future, based only on the exchange chart of the coin.

The general stock chart to understand the appearance of lines.
Exchange "Binance", timeframe 3 days.

Now let's take a closer look at the chart. The timeframe is 12 hours.

In fact, it's very simple. The coin price moves along the main support line 1 and has a positive trend. The whole problem is that in the process of moving the price of the coin will experience constant "bearish" pressure. In the coming months, the price of the token should break up at least 4 powerful resistance lines. The yellow resistance line 5 was added recently, so I highlighted it separately.

On the positive side, it should be noted that over the past few months, the price of the coin began its growth several times. This suggests that the coin is still popular with traders and many see the XMR token as a good asset for investment.

Apparently, the price of the coin will go in a lateral direction along the line 1. The price will be subject to fluctuations depending on the passage of "bearish" lines. In the next one and a half to two months, the coin rate will change within 0.0125 - 0.014 BTC with a tendency to increase. Strong spike upwards is not to be expected.

Good luck!
The @upvoteinvest team
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