Monero (XMR) Price Is Dangling Within $144 and $134 Levels, Awaiting a Breakout

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Monero (XMR) Price Analysis: September 25

In case the bears increase their momentum, the support level of $134 may be broken downside, which may extend bearish trend to the low of $124 and $108. When there is an increase in the bulls’ pressure, $144 resistance level may be broken upside, Monero price may increase to $165 and $185 levels.

Key Levels:

Resistance Levels: $144, $165, $185

Support Levels: $134, $124, $108

XMRUSD Long-term Trend: Bearish

Monero is bearish on the daily chart. The crypto was on ranging movement within the resistance level of $165 and support level of $144 last two weeks. On September 18, sellers gain more pressure and broke down the support level of $144. Price decreases and tested the support level of $134. The bears’ momentum is weak and the bulls’ momentum is not enough to break up the resistance level of $144. Consolidation movement is in progress within $144 and $134 level.

Monero price is trading below the 9 periods EMA and 21 periods EMA as a sign of bearish movement in the Monero market. In case the bears increase their momentum, the support level of $134 may be broken downside, which may extend bearish trend to the low of $124 and $108. When there is an increase in the bulls’ pressure, $144 resistance level may be broken upside, Monero price may increase to $165 and $185 levels. However, the relative strength index period 14 is at 44 level with the signal line displaying no specific direction.

XMRUSD Price Medium-term Trend: Ranging

Monero is on the ranging movement on 4-Hour chart. Monero is awaiting a breakout. The ranging movement has been in place since July 21.The price is range-bound within the resistance level of $144 and $134 levels. The ranging movement will continue until there is a breakout to the north or to the south.

The price is trading around 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 down to indicate sell signal.

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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.