Monero (XMR) Price Awaiting a Breakout

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Ranging movement continues in Monero market

Monero (XMR) Price Analysis: October 30

The breakup of $152 resistance level will increase the price to $165 and $185 resistance levels. Should sellers gain more pressure, $144 support level may be penetrated downside, Monero price may reduce to $134 and $124 support levels.

Key Levels:

Resistance Levels: $152, $165, $185

Support Levels: $144, $134, $124

XMRUSD Long-term Trend: Ranging

On the daily chart, Monero is on the ranging mode. The support level of $134 still holding the price. It remains difficult for the sellers to penetrate the just mentioned level. Likewise, the bulls are yet to gain more pressure to break up the resistance level of $152. The price is still dangling within the $152 and $144 levels.

Monero price is trading over and around the 9 periods EMA and 21 periods EMA as a sign of ranging movement in the Monero market. The breakup of $152 resistance level will increase the price to $165 and $185 resistance levels. Should sellers gain more pressure, $144 support level may be penetrated downside, Monero price may reduce to $134 and $124 support levels. The relative strength index period 14 is at 57 levels with the signal line displaying no specific direction.

XMRUSD Price Medium-term Trend: Ranging

Monero is on the ranging movement on 4-Hour chart. The bulls’ momentum remains weak and could not break down the support level of $144. The bears’ pressure is not strong enough to penetrate the support level of $134. Ranging movement continues until there is a breakout towards south or north.

The price is hovering over the two EMAs with the 9-day EMA remains interlocked to 21-day EMA which indicate that ranging movement is in progress. The relative strength index is at 57 levels displaying bullish direction. .

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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.