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

Azeez Mustapha
5 September 2021 | Updated: 5 September 2021

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.

Monero Daily chart, September 05

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.

Monero 4 hour chart, September 05

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

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Azeez Mustapha

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.