Monero (XMR) Price: Bulls Are Gathering Momentum to Push Up price

Monero (XMR) Price Analysis: July 25

The resistance level of $244 may be penetrated upside and the resistance levels of $281 and $322 may be the target. Inability to break up the resistance level of $244 may result to further price decrease towards the support level of $161, and $136.

Key Levels:

Resistance Levels: $244, $281, $322

Support Levels: $189, $161, $136

XMRUSD Long-term Trend: Ranging

On the daily chart, XMRUSD is on the ranging movement. Monero remains within the ranging movement zone. The bulls are yet to gain more pressure to penetrate the resistance level of $244. The support level of $189 still holds and the price continue a ranging movement within the $244 and $189 price levels. The support level of $189 has rejected the price many times, it seems the bulls’ momentum may increase.

The price is trading slightly above the 9-day EMA and the 21-day EMA on the daily chart. The buyers are putting more pressure on the coin at the moment, and the price may bounce upwards, the resistance level of $244 may be penetrated upside and the resistance levels of $281 and $322 may be the target. Inability to break up the resistance level of $244 may result to further price decrease towards the support level of $161, and $136.

XMRUSD Price Medium-term Trend: Bullish

Monero is bullish on 4-Hour chart. The price was ranging within the support level of $189 and resistance level of $244 last two weeks. It is currently bouncing up, moving towards the resistance level of $244. In case the support level of $189 holds, the price may break up $244 price level.

The 9-day EMA is above the 21-day EMA and the price is trading above the two EMAs, which indicate that bulls are gathering momentum to push up Monero price.

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