Monero (XMR) Price: Bears Defend Support Level of $244, Price Is Increasing

21 November 2021 | Updated: 21 November 2021

Monero (XMR) Price Analysis: November 21

Further increase in the bulls’ pressure may push the price to reach the resistance level of $281 and the breakup of the $281 resistance level will increase the price towards $322 and $361 levels. In case the daily candle could not close above the resistance level of $281, ranging movement may continue, below the current price level are $244, $261 and $189 support 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 resistance level of $281 holds the Monero price and it repelled towards the support level of $244. The mentioned level is penetrated downside and the support level of $216 was tested on November 18. Today, the bulls dominates the market and the price is increasing towards the resistance level of $281.

Monero Daily chart, November 21

 

Monero is trading below the 9-day EMA and the 21-day EMA on the daily chart and the two EMAs are separated from each other. Further increase in the bulls’ pressure may push the price to reach the resistance level of $281 and the breakup of the $281 resistance level will increase the price towards $322 and $361 levels. In case the daily candle could not close above the resistance level of $281, ranging movement may continue, below the current price level are $244, $261 and $189 support levels.

XMRUSD Price Medium-term Trend: Ranging

Monero is ranging on 4-Hour chart. The price experienced a bearish breakout last week. The sellers did allow the price to rally and the price decline to test the support level of $216. Bulls defend the just mentioned level and price bounces up towards the resistance level of $244. At the moment, the price is consolidating at $244 level.

XMRUSD 4-hour chart, November 21

Monero is trading above the two EMAs, which indicate an increase in bullish momentum. The relative strength index is at 60 levels with the signal line 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.