Monero (XMR) Price: Bearish Movement May Continue to $189 Level

26 September 2021 | Updated: 26 September 2021

Monero (XMR) Price Analysis: September 12

More pressure from the bears may successfully push the coin below $189 level, to expose the price to the support levels of $161 and $136. Above the current price are barriers at the resistance level of $244, which may increase to $281 and $322 levels.

Key Levels:

Resistance Levels: $244, $281, $322

Support Levels: $189, $161, $136

XMRUSD Long-term Trend: Bearish

On the daily chart, XMRUSD is on the bearish movement. Another double top chart pattern formed on September 06; this is what led to the downtrend of the crypto.  The Crypto broke down the support level of $281 and tested $244, it bounced up to retest the resistance level. The sellers exerted more pressure and the price decreased below $224. Currently, the price is retesting $244 level.

XMRUSD Daily chart, September 26

Monero is trading below the 9-day EMA and the 21-day EMA on the daily chart. More pressure from the bears may successfully push the coin below $189 level, to expose the price to the support levels of $161 and $136. Above the current price are barriers at the resistance level of $244, which may increase to $281 and $322 levels.

XMRUSD Price Medium-term Trend: Bearish

Monero is bearish on 4-Hour chart. On September 06, the price touched the previous high at $322. The bullish pressure could not break up the level. It seems the bear defended the just mentioned resistance level. The Sellers increase their pressure and the price reached the support at $244. The sellers exerted more pressure to break down the support level of $244. At the moment, the price is exposes to $189 level.

Monero 4-hour chart, September 26

Monero is trading below the two EMAs, which indicate that bears’ momentum is increasing. The relative strength is at 40 levels with the signal line pointing down to indicate sell signal

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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.