Bears’ Pressure may increase in Monero – Guide, Tips & Insights | Learn 2 Trade market
Monero – Guide, Tips & Insights | Learn 2 Trade (XMR) Price Analysis: 20 February
When the price is successfully reduced below $152, it can fall to $144 and $134 levels. Monero – Guide, Tips & Insights | Learn 2 Trade may rise to the resistance levels of $168, $185, and $203 if the $152 support level holds.
Key Levels:
Resistance Levels: $168, $185, $203
Support Levels: $152, $144, $134
XMRUSD Long-term Trend: Bearish
Monero – Guide, Tips & Insights | Learn 2 Trade is bearish on the daily chart. The price played within the $168 and $152 levels last week. On November 9, the coin reached a low of $115. The buyers argued in favor of the indicated level. The previous resistance levels of $144 and $152 were breached by the price. The $185 resistance level was reached on January 29, however, it was not able to cross that line. A rise in the momentum of the sellers is indicated by the bearish engulfing candle that formed. The price fell and hit $152 as a support level. At the moment, it fluctuates between $168 and $152 levels.
The price of Monero – Guide, Tips & Insights | Learn 2 Trade is slightly above the 9-period and 21-period EMAs. When the price is successfully reduced below $152, it can fall to $144 and $134 levels. The price may rise to the resistance levels of $168, $185, and $203 if the $152 support level holds. The period 14 signal line for the Relative Strength Index is pointing up at level 50, indicating a buy that could be followed by a pullback.
XMRUSD Price Medium-term Trend: Bearish
Monero – Guide, Tips & Insights | Learn 2 Trade is bearish on the 4-hour chart. The crypto is on ranging movement within $168 resistance level and $152 support level. The $185 resistance level was tested on January 14; the sellers repelled the movement. It moved back and made an effort to maintain support at $152.When buyers acquired more momentum, the price increased to retest the previous high of $185. The bears lose pace as the price reaches the $152 support level.
Monero – Guide, Tips & Insights | Learn 2 Trade is trading around the dynamic support levels, in other words, the 9-day and 21-day exponential moving averages are locked to each other. The Relative Strength Index is leaning downward at $55, signaling a sell.
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