Monero (XMR) Price: Bulls Are Exerting Pressure Towards $322 Resistance Level

Monero (XMR) Price Analysis: September 05

In case the bulls successfully push coin above $322 level, it may expose the price to the resistance levels of $361 and $401. Below the current price are the support level of $281, further decrease may push the price down to the support levels of $244, and $189 price levels.

Key Levels:

Resistance Levels: $322, $361, $401

Support Levels: $281, $244, $189

XMRUSD Long-term Trend: Bullish

On the daily chart, XMRUSD is on the bullish movement. The Coin was on the ranging movement around the $322 level. The price later decreased to retest the support level of $281 level. On September 01, a bullish engulfing candle emerges and the price is increasing towards the resistance level of $322 at the moment.

The bulls are trying to push the price to break the resistance level of $322 as Buyers are exerting pressure on the Monero market. The price is trading above the 9-day EMA and the 21-day EMA on the daily chart. In case the bulls successfully push coin above $322 level, it may expose the price to the resistance levels of $361 and $401. Below the current price are the support level of $281, further decrease may push the price down to the support levels of $244, and $189 price levels.

XMRUSD Price Medium-term Trend: Bullish

Monero is bullish on 4-Hour chart. On September 01, the price found support at the $281 level. The buyers react against the price decrease and the bulls’ momentum is gradually increasing on the 4-hour chart. The price is heading towards the resistance level of $322.

The 9-day EMA is separating from the 21-day EMA and the price is trading above the two EMAs, which indicate that bulls’ momentum is increasing. The relative strength is above 60 levels with the signal line pointing up to indicate buy signal

You can purchase crypto coins here.  Buy Tokens