Monero (XMR) Price Continues a Ranging Movement Within $244 and $189 Levels

11 July 2021 | Updated: 11 July 2021

Monero (XMR) Price Analysis: July 11

In case the bulls increase their momentum, the resistance level of $244 may be broken upside, which may increase the price to $281 and $322 resistance levels. In case the bulls are not able to break up resistance level of $244, price may decrease towards the support level of $189, $161 and $136 levels.

Resistance Levels: $244, $281, $322

Support Levels: $189, $161, $136

XMRUSD Long-term Trend: Ranging

On the daily chart, Monero is on ranging movement. Ranging movement continues in the daily market. The bears are yet to gain momentum to break down the support level of $189. Also, the bulls are having low pressure to break up the resistance level of $244. Monero continue ranging movement within the resistance level of $244 and support level of $189.  Unless there is a breakdown of the support level of $189 or the breakup of $244, consolidation continues.

XMR Daily chart, July 11

Monero price is trading below and within the 9 periods EMA and 21 periods EMA as a sign of consolidation movement.   In case the bulls increase their momentum, the resistance level of $244 may be broken upside, which may increase the price to $281 and $322 resistance levels. In case the bulls are not able to break up resistance level of $244, price may decrease towards the support level of $189, $161 and $136 levels.

XMRUSD Price Medium-term Trend: Ranging

Monero is on the ranging movement on 4-Hour chart. The sellers’ pressure remains weak and could not break down the $189 support level. The price is range-bound within resistance level of $244 and $189 support level.

XMRUSD 4 hour chart, July 11

The price is hovering over and around the two EMAs with the 9-day EMA interlocked to the 21-day EMA which indicate that ranging movement is in progress in the Monero market. The relative strength index is at 60 levels displaying no specific price 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.