Monero (XMR) Price Continues Ranging Movement Within $152 and $134 Levels

Updated:

Checkmark

Invest at least $250 in D2T to gain lifetime access to our VIP Signals

Checkmark

Get early access to Dash 2 Trade’s Presale. Buy the D2T token now

Checkmark

Existing community of 70,000+ traders

Checkmark

Unlocks access to the leading crypto trading analysis, signals and trading tools

Checkmark

As featured in CryptoNews.com, FXEmpire.com, FXStreet.com and more

Checkmark

World class development team backed by Quant developers and VC investors


 Weak bearish and bullish momentum in Monero market

Monero (XMR) Price Analysis: October 16

When the buyer increase their momentum, the resistance level of $152 may be broken upside, which may extend bullish trend to the high of $165 and $185 levels. In case there is an increase in the bears’ pressure, $144 support level may be broken downside, Monero price may decrease to $134 and $124 levels.

Key Levels:

Resistance Levels: $144, $152, $165

Support Levels: $134, $124, $115

XMRUSD Long-term Trend: Ranging

Monero is ranging on the daily chart. The support level of $134 was tested on September 21. The price pulled back to retest the resistance level of $152. Buyers’ effort to penetrate the just mentioned level proved futile. The sellers’ pressure opposed the bullish movement. The price started trading within the resistance level of $144 and support level of $134. Ranging movement may continue until there is a breakout to the north or south.

Monero price is trading over and around the 9 periods EMA and 21 periods EMA as a sign of ranging movement in the Monero market. In case there is an increase in the bears’ pressure, $134 support level may be broken downside, Monero price may decrease to $124 and $115 levels. In case the buyers increase their momentum, the resistance level of $152 may be broken upside, which may extend bullish trend to the high of $165 level. However, the relative strength index period 14 is at 45 levels with the signal line displaying bullish direction.

XMRUSD Price Medium-term Trend: Ranging

Monero is on the ranging movement on 4-Hour chart. The resistance level of $152 holds the price. Bulls were unable to break up the just mentioned level.  The barrier at the support level of $134 remains strong and the sellers’ pressure remains low. This scenario make the price continue trading within $152 and $134 level.

The price is hovering over the two EMAs with the 9-day EMA interlocked to 21-day EMA which indicate that ranging movement is in progress. The relative strength index is at 48 levels pointing up to indicate buy signal.

You can purchase Lucky Block here.  Buy LBLOCK

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

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.