Monero (XMR) Price Continues a Ranging Movement Within $281 and $244 Levels

Updated:

Monero (XMR) Price Analysis: November 14

The breakdown of the $244 support level will decrease the price towards $216 and $189 levels. In case the daily candle close above the resistance level of $281, bulls may push the coin to test the resistance level of $322 and $361.

Key Levels:

Resistance Levels: $281, $322, $361

Support Levels: $244, $216, $189

XMRUSD Long-term Trend: Ranging

XMRUSD is on the ranging movement in the daily chart. Monero is still ranging within the resistance level of $281 and the support level of $244. That means Monero market is still experiencing a low volatility. The bulls’ effort to break up the resistance level of $281 has been proved abortive. Bears were equally pressing hard on the support level at $244, the bulls are defending the level. Monero price continue a ranging movement within $281 resistance level and $244 support level. Breakout is imminent in the Monero market.

XMRUSD Daily chart, November 14

Monero is trading over and around the 9-day EMA and the 21-day EMA on the daily chart and the two EMAs are interlocked to each other. The breakdown of the $244 support level will decrease the price towards $216 and $189 levels. In case the daily candle close above the resistance level of $281, bulls may push the coin to test the resistance level of $322 and $361.

XMRUSD Price Medium-term Trend: Ranging

Monero is ranging on 4-Hour chart. The price experienced a fake bullish breakout last week. The sellers did not allow the price to rally and the price decline back to the ranging zone. Not until there is a breakout at $281 or at the support level of $244, ranging movement may continue.  The just mentioned levels still hold the price. The price is currently facing the resistance level of $281. An increase in the bulls’ momentum can push the price to $322 price level.

XMRUSD 4-hour chart, November 14

Monero is trading above the two EMAs, which indicate an increase in bullish momentum. The relative strength index is above 50 levels with the signal line displaying no specific 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.