Monero (XMR) Price Approaches a Previous Low at $179, Bullish Movement Envisaged

Updated:

Monero (XMR) Price Analysis: January 09

In case the bulls oppose the bearish movement at $179, price may reverse and face the resistance level of $220, which may increase the price to high of $249 and $281. When the bears break down the support level of $179, there may be a decrease towards the support level of $161 and $136.

Key Levels:

Resistance Levels: $220, $249, $281

Support Levels: $179, $161, $136

XMRUSD Long-term Trend: Bearish

Monero is bearish on the daily chart. The bullish trend commenced by the bull on December 20 at $179 support level place the price at $249 level. The bulls’ pressure failed and could not break up the resistance level. An inside bar candle pattern formed and the price decline to test the previous low after broke down the $220 level. The price is testing $179 level at the moment and the bulls dominate the market today which may increase the price.

XMRUSD daily chart, January 09

Monero price is trading below the 9 periods EMA and 21 periods EMA as a sign of bearish momentum.   In case the bulls oppose the bearish movement at $179, price may reverse and face the resistance level of $220, which may increase the price to high of $249 and $281. When the bears break down the support level of $179, there may be a decrease towards the support level of $161 and $136. However, the relative strength index period 14 is at 40 levels with the signal line displaying bullish direction.

XMRUSD Price Medium-term Trend: Bearish

Monero is on the bearish movement on 4-Hour chart. The price action on the 4-hour chart is trying to form a double bottom chart pattern. The price tested the support level at $179 on December 15. The mentioned level holds and the price bounced up and test the resistance level of $249. The bears opposed the price increase and push down the price towards the previous low at $179. It seems the bulls are getting ready to take over the market.

XMRUSD 4-hour chart, January 09

The price is trading between the 9-day EMA and the 21-day EMA which may indicate a bullish reversal at $179 level. The relative strength index is at 40 levels pointing up to indicate buy signal.

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Monero (XMR) Price: Bullish Momentum Is Increasing Towards $281 Level  

Updated:

Monero (XMR) Price Analysis: November 07

In case the daily candle close above the resistance level of $281, bulls may push the coin to test the resistance level of $322 and $361. On the other hand, the breakdown of the $244 support level will decrease the price towards $216 and $189 levels.

Key Levels:

Resistance Levels: $281, $322, $361

Support Levels: $244, $216, $189

XMRUSD Long-term Trend: Ranging

XMRUSD is on the ranging movement in the daily chart. The price is dangling within the resistance level of $281 and support level of $244. The bulls’ effort to break up the resistance level of $281 has not been successful. Bears were equally pressing hard on the support level at $244, the bulls are defending the level. Monero price continue a ranging movement within $281 resistance level and $244 support level. The currency pair is awaiting a breakout.

XMRUSD Daily chart, November 07

The two EMAs are interlocked and Monero is trading over and around the 9-day EMA and the 21-day EMA on the daily chart. In case the daily candle close above the resistance level of $281, bulls may push the coin to test the resistance level of $322 and $361. On the other hand, the breakdown of the $244 support level will decrease the price towards $216 and $189 levels.

XMRUSD Price Medium-term Trend: Ranging

Monero is ranging on 4-Hour chart. The price has tested the support level of $244 three times. The just mentioned level still hold the price. The bulls opposed further decrease in price and a big bullish candle emerges that pushed the price to the resistance level of $281. The price is currently facing the resistance level of $281. An increase in the bulls’ momentum can push the price to $322 price level.

XMRUSD 4-hour chart, November 07

Monero is trading above the two EMAs, which indicate an increase in bullish momentum. The relative strength index is above 50 levels with the signal line displaying bullish direction.

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Monero (XMR) Price: Bullish Movement May Commence at $244 Level

Updated:

Monero (XMR) Price Analysis: October 03

In case the bulls exert more pressure, the coin may be pushed above $281 level, to expose the price to the resistance levels of $322 and $361. Below the current price are barriers at the support level of $244, which may decrease to $216 and $189 levels.

Key Levels:

Resistance Levels: $281, $322, $361

Support Levels: $244, $216, $189

XMRUSD Long-term Trend: Bullish

On the daily chart, XMRUSD is on the bullish movement. The silver price has completed the formation of the double top chart pattern started on September 06 which led to the downtrend of the crypto.  The Crypto found support at $216 level. The bulls’ pressure could not break down the mentioned level. Price reverses and penetrates $244 level upside, increasing towards the resistance level of $281.

XMRUSD Daily chart, October 03

Monero is trading above the 9-day EMA and the 21-day EMA on the daily chart. In case the bulls exert more pressure, the coin may be pushed above $281 level, to expose the price to the resistance levels of $322 and $361. Below the current price are barriers at the support level of $244, which may decrease to $216 and $189 levels.

XMRUSD Price Medium-term Trend: Bullish

Monero is bullish on 4-Hour chart. The coin was on the bearish movement last week on the 4-hour chart. the sellers successfully pushed down the price to the support level of $216. The bulls made an attempt to push up the price above the resistance level of $244 but the bears defended the just mentioned level. Then, price started a ranging movement within the $244 and $216 levels.  On October 01, the price broke up the $244 level and the price is currently exposes to $281 level.

XMRUSD 4-hour chart, October 03

Monero is trading above the two EMAs, which indicate that bulls’ momentum is increasing. The relative strength is at 60 levels with the signal line pointing up to indicate buy signal

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Monero (XMR) Price Breaks Up $244 Level, Targeting $281 Level

Updated:

Monero (XMR) Price Analysis: August 08

The breaking up of the resistance level of $281 may result to further price increase towards the resistance levels of $322 and $361. Failure to break up the resistance level of $281 may send the price down to the support levels of $244, $189 and $161.

Key Levels:

Resistance Levels: $281, $322, $361

Support Levels: $244, $189, $161

XMRUSD Long-term Trend: Bullish

On the daily chart, XMRUSD is on the bullish movement. On the daily chart, Monero price continue to obey the command of the bulls after the formation of a bullish chart pattern called double bottom. Yesterday, the price increase to test the resistance level of $281. Today, the price respect the mentioned level and pulls back to retest the dynamic support levels.

XMRUSD Daily chart, August 08

Buyers are exerting more pressure on the Monero market, the price is trying to break up the resistance level of $281. The price is trading above the 9-day EMA and the 21-day EMA on the daily chart. The breaking up of the resistance level of $281 may result to further price increase towards the resistance levels of $322 and $361. Failure to break up the resistance level of $281 may send the price down to the support levels of $244, $189 and $161.

XMRUSD Price Medium-term Trend: Bullish

Monero is bullish on 4-Hour chart. The bulls gained more pressure and push up the price. The price eventually breaks up the resistance level at $244. It is increasing gradually towards the resistance level at $281. There is tendency for the price to break up the $281 level provided the bulls increase their pressure.

XMRUSD 4 hour chart, August 08

The 9-day EMA is above the 21-day EMA and the price continue its trading above the two EMAs, which indicate that bulls are in control of Monero market.

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Monero Records Daily Transactions Per Block High as Bullish Momentum Returns

Updated:

Monero (XMR) recently witnessed a record 57.9 average daily transactions per block, according to a report by the Monero Blocks XMR explorer.

Over the past few days, the cryptocurrency’s blockchain recorded over 40,000 transactions, which surpasses 25% of the average weekly transaction volume.

Meanwhile, XMR trading pairs are also experiencing increased trading volumes on the charts. Most altcoins have recorded significant spikes since the goodish bounce in Bitcoin, with XLM surging by about 13% since the recovery.

However, Monero has failed to establish a healthy footing above the $200 round figure and remains constrained within a range between $200 and $195.

The crypto market at large saw a massive crash over the past few months, starting in May. In the same month, Monero recorded its highest price ever at $517 per coin.

Some technical analysts suggest that XMR remains solidly on critical support that has gotten tested five times in the past five months, from February to July.

That said, the network has recorded multiple trading volume surges that correlate with average transactions per block volume. The former daily transaction high occurred in May, matching the 45% volatility of the XMR/USD trading pair.

Key Monero Levels to Watch — July 23

Monero posted a healthy rebound from the $180.00 level on Wednesday, pushing the price to the $200.00 high. However, this bullish move got contented by bears, who pushed the price down to $196.00 after a prolonged consolidation yesterday.

XMRUSD – 4-Hour Chart

That said, XMR retested the $200.00 level a few hours ago and got rejected again, leaving it range-bound between $200 and $195. The $195.00 support is fortified by the 50 SMA on our 4-hour chart, making a bullish push in the coming hours the next likely course of action.

Meanwhile, our resistance levels are $200.00, $210.00, and $220.00, and our support levels are $195.00, $180.00, and $175.00.

Total Market Capitalization: $1.33 trillion

Monero Market Capitalization: $3.53 billion

Monero Dominance: 0.26%

Market Rank: #27

 

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