Monero (XMR) Price Is Range-bound Within $281 and $244 Price Levels


Monero (XMR) Price Analysis: August 15

The breaking up of the resistance level of $281 may result to further price increase towards the resistance levels of $322 and $361. Failure to break up the resistance level of $281 may send the price down to the support levels of $244, $189 and $161.

Key Levels:

Resistance Levels: $281, $322, $361

Support Levels: $244, $189, $161

XMRUSD Long-term Trend: Ranging

On the daily chart, XMRUSD is on the ranging movement. Monero price could not break up the $281 contrary to traders’ sentiment; more buyers were in the market than numbers of sellers. In addition, the support level of $44 holds, likewise the resistance level of $281. The coin resulted to ranging movement within the mentioned levels.

XMRUSD daily chart, August 15

The price is trying to break up the resistance level of $281 as Buyers are exerting pressure on the Monero market. The price is trading above the 9-day EMA and the 21-day EMA on the daily chart. The break out of the resistance level of $281 may expose the price to the resistance levels of $322 and $361. The break down of the support level of $244 may decrease the price down to the support levels of $189, and $161 price levels.

XMRUSD Price Medium-term Trend: Ranging

Monero is ranging on 4-Hour chart. The bulls pushed up the price to break up the resistance level of $244. The bulls lose the momentum when the price reached the resistance level of $281. The price has tested the level for three times and the level still holds. The bears have low pressure and the support level of $244 could not be penetrated.

XMRUSD 4 hour chart, August 15

The 9-day EMA is interlocked with the 21-day EMA and the price continue to hover around the two EMAs, which indicate that bulls’ and bears’ momentum is weak. The relative strength is at 50 levels with the signal line displaying 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.