Monero (XMR) Price May Reach Previous Low at $108 Level

Updated:

Checkmark

Invest at least $250 in D2T to gain lifetime access to our VIP Signals

Checkmark

Get early access to Dash 2 Trade’s Presale. Buy the D2T token now

Checkmark

Existing community of 70,000+ traders

Checkmark

Unlocks access to the leading crypto trading analysis, signals and trading tools

Checkmark

As featured in CryptoNews.com, FXEmpire.com, FXStreet.com and more

Checkmark

World class development team backed by Quant developers and VC investors


Monero (XMR) Price Analysis: July 10

In case the support level of $108 holds, the price may increase towards the resistance levels of $124, $142 and $167. When the bears break down the support level of $108, there may be a price decrease towards the support level of $94, and $88.

Key Levels:

Resistance Levels: $124, $142, $167

Support Levels: $108, $94, $88

XMRUSD Long-term Trend: Bullish

Monero is bullish on the daily chart. Bears pushed the price to the support level of $108 from the high of $203 after the formation of double top chart pattern. The just mentioned level holds and Monero Price pulls back to the resistance level of $124. Last week the bulls’ pressure failed and the bears takes over the market and push the price towards the previous low of $108. The price is gradually increasing towards $142 resistance level.

Monero price is trading above the 9 periods EMA and 21 periods EMA as a sign of bullish momentum.   In case the support level of $108 holds, the price may increase towards the resistance levels of $124, $142 and $167. When the bears break down the support level of $108, there may be a price decrease towards the support level of $94, and $88. However, the relative strength index period 14 is at 44 levels with the signal line displaying bearish direction.

XMRUSD Price Medium-term Trend: Bearish

Monero is on the bearish movement on daily chart. When the bears’ momentum failed at the support level of $94, the bulls gained momentum and pushed the price upside to retest the resistance level of $124 where the price is trying to bounce off. The price is currently heading towards the support level of $108 at the moment.

The price is trading slightly below the 9-day EMA and the 21-day EMA which indicate that bears are in control of the Monero market. The relative strength index is at 42 levels pointing down to indicate sell signal.

You can purchase Lucky Block here. Buy LBlock

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

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
$100 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.