La cryptocurrency Monero it is rising after a period of profound immobility: the forecasts seem to be optimistic and predict an excellent risk / remuneration ratio. Let's find out all the details and forecasts of the analysts.
Monero on the rise?
To give credit to this idea there is a careful in-depth analysis, but we go over the fundamental "stages" of the Monero cryptocurrency.
Monero is a cryptocurrency born in April of 2014 which, unlike other virtual currencies, is characterized byCryptonote algorithm.
As for its market trend, this special digital currency managed to win an interesting record during the 2018.
The forecasts for the 2019, and for the future are equally prosperous and rosy. During the first periods of December, the currency has stalled until, thanks to the bullish candle, the quotation of Monero has positioned itself above the moving average.
The bullish candle is one of the most well-known patterns present in the graphs, and is generally used to perform technical analyzes in the financial field.
The signal they produce can be either negative or positive: in the case of the 8 February of the 2019, the trend in question seems to be on the rise.
If the rising situation remains stable, everything will turn to the buyers, allowing them to apply broad bullish strategies.
Compared to the moving average at 50 days, the moving average at 200 days seems to indicate a big obstacle. It is around 70 dollars, and accounts for the main decreasing peaks recorded between November and December.
Monero strengthens its quota
The bullish strategies that could be implemented by Monero buyers could signal the closing price of the stock market a dollars 56,80, implementing a mold strategy long, with stop loss allowed just below the level of swing trading.
With this financial trading strategy, we mean the application of trading techniques in a time that is not limited to a single day.
One of the first goals, in this logic, could be reported near the moving average of 200 days, roughly on the 70 dollars. But there seems to be an even more ambitious goal in the pipeline, positioned on the 100 dollars.
The current price of this cryptocurrency is of dollars 63,46, and recorded an upward trend in 9,9% in the latest 24 hours.
In this period Monero, is particularly evident in the world of cryptocurrencies and records a advantageous rise for buyers.
In the financial market it is necessary to always be informed of the downward and upward trends, so as to implement the best strategies to obtain satisfactory gains, considerably limiting the losses.
Monero boasts of a fort strengthening of its quota, favoring the best. A bullish strategy is implemented when prices continue to rise, while at the same time allowing them to make substantial profits.
This type of strategy is adopted for quite long periods (several weeks or months). It is generally adopted by traders when they foresee a continuation of the time of that particular trade.
This is what happened in the case of the Monero cryptocurrency. The traders have implemented an upward strategy in the last period, which promises excellent earnings.
