Monero (XMR) Price Finds Support at $216 Level, Targeting $322 Level
Login

Monero (XMR) Price Finds Support at $216 Level, Targeting $322 Level

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:


Monero (XMR) Price Analysis: October 10

A further increase in pressure of the bulls may successfully push the coin above $281 level, to expose the price to the $322 and $361 resistance levels. Below the current price, barriers are found at the support level of $244, which may decrease to $216 and $189levels.

Key Levels:

Resistance Levels: $281, $322, $361

Support Levels: $244, $216, $189

XMRUSD Long-term Trend: Bullish

On the daily chart, XMRUSD is on the bullish movement. The Crypto played the way it was predicted last week. A double top chart pattern that formed on September 06 led to the downtrend of the crypto and it found support at $218. A bullish engulfing candle emerged, which is a bullish reversal signal candle. Monero price increased, broke up $244 level and tests $278 level before weekly market closed.

XMRUSD Daily chart, October 10

Monero is trading above the 9-day EMA and the 21-day EMA on the daily chart. A further increase in pressure of the bulls may successfully push the coin above $281 level, to expose the price to the $322 and $361 resistance levels. Below the current price, barriers are found at the support level of $244, which may decrease to $216 and $189 levels.

XMRUSD Price Medium-term Trend: Bullish

Monero is bullish on 4-Hour chart. The bears lose momentum at the support level of $216 on September 22, the price consolidates for few days before the bulls gain enough momentum to break up the resistance level of $244. It rallied to the resistance level of $281 where it had a partial breakout before pulling back. Monero is currently trading at $281 level with low volatility.

Moneo 4-hour chart, October 10

Monero is trading around the two EMAs, which indicate that bears’ and bulls’ momentum is decreasing. The relative strength index is at 50 levels with the signal line displaying no specific direction.

You can purchase crypto coins here.  Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News