Monero (XMR) Price Is Range-Bound Within $250 and $218 Levels
Login

Monero (XMR) Price Is Range-Bound Within $250 and $218 Levels

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

Azeez Mustapha

Updated:

Monero (XMR) Price Analysis: April 17

In case the bulls break up the resistance level of $250, there may be an increase towards the resistance level of $293 and $324. When the bears increase their momentum, the support level of $218 may be penetrated downside, which may decrease the price to low of $185 and $142

Key Levels:

Resistance Levels: $250, $293, $324

Support Levels: $218, $185, $142

XMRUSD Long-term Trend: Bullish

Monero is bullish on the daily chart. The formation of double bottom chart pattern formed on the daily time frame at $142 support level triggered the bullish trend. The crypto increases and broke up the former resistance levels of $185 and $215. More pressure from the bulls pushed the price to test the high of $250 which is the October high.

Daily 27

Monero price is trading above the 9 periods EMA and 21 periods EMA as a sign of bullish momentum.   In case the bulls break up the resistance level of $250, there may be an increase towards the resistance level of $293 and $324. When the bears increase their momentum, the support level of $218 may be penetrated downside, which may decrease the price to low of $185 and $142. However, the relative strength index period 14 is at 60 levels with the signal line displaying no specific direction.

XMRUSD Price Medium-term Trend: Ranging

Monero is on the ranging movement on 4-Hour chart. The price is range-bound within the support level of $218 and resistance level of $250 since last week. The bears’ pressure is weak to break down the $218 support level. Likewise, the bulls’ momentum is low to push up the price. The price is trying to break up the levels. Monero is awaiting a breakout.

4hours 30

The price is trading over and around the two EMAs with the 9-day EMA interlocked with the 21-day EMA which indicate a consolidating market. The relative strength index is at 57 levels pointing up to indicate buy signal.

You can purchase Lucky Block here: Buy LBlock

  • 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