Should the bears continue to increase their momentum, $322 support level will be penetrated, and Monero will decrease towards $281 and $244 levels. Failure to break down the $322 level may send the price towards the $401 and $449 and $511resistance levels.
Key Levels:
Resistance Levels: $401, $449, $511
Support Levels: $322, $281, $244
XMRUSD Long-term Trend: Bullish
XMRUSD is bullish on the daily chart. The bulls increases their pressure and the price increase accordingly to the resistance level at $401 on April 20. The mentioned resistance level holds and the price pulled back to test the support level at $322 level. The bulls increases the price again to test the resistance level of $401 second time. The price action has formed a double top chart pattern and the price may descend.
Monero price is declining with the daily bearish candle penetrating the 9 periods EMA and 21 periods EMA as a sign of bearish movement. Should the bears continue to increase their momentum, $322 support level will be penetrated, and Monero will decrease towards $281 and $244 levels. Failure to break down the $322 level may send the price towards the $401 and $449 and $511resistance levels. Meanwhile, the relative strength index period 14 is at 50 levels with the signal line pointing down to indicate sell signal.
XMRUSD Price Medium-term Trend: Bearish
On 4-Hour chart, Monero is on the bearish movement. The price action has formed a double top chart pattern at resistance level of $401. There is a tendency that the bears will dominate the Monero market this week.
The price is trading below the two EMAs with the 9-day EMA crossing the 21-day EMA downside to establish a down trend movement. The relative strength index is at $40 levels pointing down to indicate sell signal.
- Broker
- Min Deposit
- Score
- Visit Broker
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Award-winning Cryptocurrency trading platform
- 14 Cryptoassets available to invest in
- FCA & Cysec regulated
Highly volatile unregulated investment products. No EU investor protection.
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus