Monero (XMR) Price; Bulls May Break Up $322 price Level to Target $361

Monero (XMR) Price; Bulls May Break Up $322 price Level to Target $361

Monero (XMR) Price Analysis: April 11

In case the bulls continue to increase their momentum, the bulls may break up the $322 resistance level and Monero will increase towards $361 and $400 resistance levels. If the bears defend the resistance level of $322, the $281 level may be revisited, below it are $244 and $217 level.

Key Levels:

Resistance Levels: $322, $361, $400

Support Levels: $281, $244, $217

XMRUSD Long-term Trend: Bullish

XMRUSD is bullish on the daily chart. Immediately after the breakout at the former resistance level of $281, the price soars towards north side.   It penetrates the $281 price level upside. Monero is testing the resistance level at $322 as at the time of writing this report.  The bulls may push the price up above the resistance level at $322.

Monero Daily chart, April 11

Monero is trading above the 9-day EMA and 21 day EMA at a distance to the two EMAs; this indicate that the bulls’ momentum is high. In case the bulls continue to increase their momentum, the bulls may break up the $322 resistance level and Monero will increase towards $361 and $400 resistance levels. If the bears defend the resistance level of $322, the $281 level may be revisited, below it are $244 and $217 level.

XMRUSD Price Medium-term Trend: Bullish

On 4-Hour chart, Monero is on the bullish trend. The bears could not defend the former resistance level of $281 after the breakout from the consolidation zone. Bulls gain more pressure and the price increase towards the $322 price level. The bulls’ momentum is high and thee is tendency for Monero price to increase.

Monero 4 hour chart, April 11

The price is trading above the two EMAs with the 9-day EMA above the 21-day EMA and the two separates from each other which indicate an increase in the bulls’ momentum and buy signal. Also the relative strength index period 14 is at 7 levels pointing upside to indicate strong buy.

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.