Monero (XMR) Price Is Range-Bound Within $169 and $142 Levels

Monero (XMR) Price Analysis: September 11

In case the bulls increase their momentum, the resistance level of $169 may be broken upside, which may extend bullish trend to the high of $185 and $203. When there is an increase in the bears’ pressure, $142 support level may be broken downside, Monero price may decrease to $124 and $108 levels.

Resistance Levels: $169, $185, $203

Support Levels: $142, $124, $108

XMRUSD Long-term Trend: Ranging

Monero is ranging on the daily chart. The bullish movement commenced on July 14. The price increased to the high at the resistance level of $169. The bears interrupted the bulls at the mentioned level. The price retraced to test the broken level of $142 on August 19. The momentum of the sellers and the buyers became low, thus, price started a ranging movement within the $169 and $142 price levels.

Monero price is trading around the 9 periods EMA and 21 periods EMA as a sign of low momentum in the Monero market. In case the bulls increase their momentum, the resistance level of $169 may be broken upside, which may extend bullish trend to the high of $185 and $203. When there is an increase in the bears’ pressure, $142 support level may be broken downside, Monero price may decrease to $124 and $108 levels. However, the relative strength index period 14 is at 52 level with the signal line displaying bearish direction.

XMRUSD Price Medium-term Trend: Ranging

Monero is on the ranging movement on 4-Hour chart. The price is range-bound within the resistance level of $169 and $142 levels. The ranging movement has been in place since July 21. The ranging movement will continue until there is a breakout at $169 or $142 level.

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 54 levels pointing down to indicate sell signal.

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