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Long-Term Trend:
3 day chart indicates a very bullish channel.
XMR is making higher highs on lower RSI highs, and higher lows on lower RSI lows; this is extremely bullish, and is most likely what is contributing to the token’s volatility.
Volatility:
Bull runs: XMR’s bull runs are very volatile.
XMR’s Bull runs by number of days and percent gain, starting with most recent:
9 days, 234%
15 days, 140%
18 days, 484%
Cycles:
Currently XMR appears to be at the end of a bear cycle, RSI is in the oversold range and pointing upwards.
No confirmation of a bullish reversal yet, but current bear cycle is weakening.
Upcoming Reversal:
The nature of the upcoming reversal appears to be less volatile than the 3 previously highlighted bull runs.
On the first figure we observe a 278% gain over a period of 138 days. And this is most likely the type of reversal XMR will experience in the upcoming weeks**
The contributing technical factor to this projection is the type of pre-reversal consolidation and how it manifests in relation to the stochastic RSI. This finding pure speculation on my part;
The above chart demonstrates XMR trend reversals, and the reversal’s corresponding stochastic RSI. Corresponding areas of interest are highlighted with corresponding colors.
The 2 highly volatile reversals demonstrated a U-shaped corresponding stochastic RSI formation. (yellow highlight)
The less volatile steady gain over a long period reversal, demonstrated a zig-zag Stochastic RSI formation. (green highlight)
Buy Signal:
Ideally, to enter a trade or an investment and maximize one’s returns while limiting liabilities and a brief ROI time. We recommend a confirmation signal before entering a position.
In XMR’s case, if we are to assume that the current bear trend is over (as figure 1 demonstrates), and a true reversal is in order. We would still recommend the following confirmation signal before entering or increasing position.
The price of XMR, to open on a 1 day chart, above .0140 Satoshis
The following chart demonstrates our recommendation for executing the following trade in relation to previous XMR reversals.
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