Monero Technical Analysis: Bulls testing $70 barrier

XMR/USD went up from $64 to $69.70 as bulls look to test the $70 barrier.
The last session took the price above both the 200-day simple moving average (SMA 200) and SMA 20 curves.
The relative strength index (RSI) indicator is creeping towards the overbought zone.
The daily market has had a bullish breakout from the triangle formation.

The 4-hour market has had a bullish breakout from the red cloud of the Ichimoku indicator.
The red cloud shows increased bearish sentiment in the near future.
The last three sessions of the Elliot wave oscillator are bullish following five consecutive bearish sessions.


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Author: Neo Anderson

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