Monero (XMR) Price Is Ranging Between $244 and $217 Price Level

Monero (XMR) Price Is Ranging Between $244 and $217 Price Level

Monero (XMR) Price Analysis: March 14

The buyers are putting more pressure on the pair, and the price may slide upwards, the resistance level of $244 may be penetrated upside and the resistance levels of $281 and $322 may be the target. Failure to break up the resistance level of $244 may result to down trend towards the support level of $217, $184, and $161.

Key Levels:

Resistance Levels: $244, $281, $322

Support Levels: $217, $184, $161

XMRUSD Long-term Trend: Ranging

XMRUSD is ranging on the daily chart. XMR reaches high of $281 on February 19, the bearish engulfing candle appeared at the resistance level of $281. The price dropped to the support level of $184. The support level of $217 holds and the price bounces towards the resistance level of $244. The price tested the support level of $217 twice, currently the price is testing the resistance level of $244.

XMRUSD Daily chart, March 03,

The 9-day EMA is above the 21-day EMA on the daily chart with the price trading above the two EMAs. The buyers are putting more pressure on the pair, and the price may slide upwards, the resistance level of $244 may be penetrated upside and the resistance levels of $281 and $322 may be the target. Failure to break up the resistance level of $244 may result to down trend towards the support level of $217, $184, and $161.

XMRUSD Price Medium-term Trend: Ranging

Monero is on the ranging mode on 4-Hour chart. The price tested the support level of $184, bounces up and retested the resistance level of $244. The price is on the ranging mode between the resistance level of $244 and support level of $184. In case the resistance level of $244 holds, the price may return to $184 price level.

XMRUSD 4-hour Chart, March 14

The 9-day EMA is above the 21-day EMA and the price is trading between the two EMAs, which indicate that consolidation is in progress.

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.