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Investment Recommendations April 20th

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Investment Recommendations April 20th

Introduction

Monero: Short-Term Buy (update)

 

Monero, 4-Hour Chart Analysis

Monero continues to trade in a holding pattern between the $20 and the $22 levels since our recommendation. The altcoin held up well, despite the spikes lower towards the $20 support, but it failed to stay above the $22 level sustainably. The triangle consolidation looks to be ending soon so the next major swing is expected to happen in the coming days.

Short-term traders might hold on to their positions or wait for a break-out above $23 to trade the next significant move in XMR. Long-term support is still found between $17 and $18, while the prior high near $25.75 provides long-term resistance.

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Mate Cser

Mate Cser

Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.

Comments
  • user

    AUTHOR Ershad

    Posted on 5:18 pm April 20, 2017.

    Hi mate,

    Any recommendation on XRP and which way it may be heading ?

    Thanks

    • user

      AUTHOR Mate Cser

      Posted on 7:00 pm April 20, 2017.

      Hi Ershad,

      It’s still a range trading environment, buying near the bottom of the range, around $0.025 would make sense,or wait for a break-out. I would say that a move higher from the range is more likely, but it could still take a while given the huge prior move.

  • View Comments (2) ...
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