Monero (XMR) Price Analysis: June 12
In case the bears increase their momentum, the support level of $142 may be penetrated downside, which may decrease the price to low of $124 and $108. When there is a breakup at $167 resistance level, Monero price will increase towards $185 and $203 levels. However, the relative strength index period 14 is at 36 levels with the signal line displaying bearish direction.
Resistance Levels: $167, $185, $203
Support Levels: $142, $124, $108
XMRUSD Long-term Trend: Bearish
Monero is bearish on the daily chart. The bulls were not able to push the price above the resistance level of $203. The bears rejected further price increase at the just mentioned level. The bearish momentum pushes XMR towards the $167 last week but the bulls could not interrupts the downward movement. The price break down the support level of $167. The bearish movement continues within below $167 levels.
Monero price is trading below the 9 periods EMA and 21 periods EMA as a sign of bearish momentum. In case the bears increase their momentum, the support level of $142 may be penetrated downside, which may decrease the price to low of $124 and $108. When there is a breakup at $167 resistance level, Monero price will increase towards $185 and $203 levels. However, the relative strength index period 14 is at 36 levels with the signal line displaying bearish direction.
XMRUSD Price Medium-term Trend: Bearish
Monero is on the bearish movement on 4-Hour chart. The bulls’ pressure could not break up the $203 resistance level. The sellers’ pressure broke down the $167 support level. Bearish movement continues as it was predicted last week.
The price is trading below the two EMAs with the 9-day EMA below the 21-day EMA which indicate that bearish movement is in progress. The relative strength index is at 35 levels pointing down to indicate sell signal.
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