Monero (XMR) Price Is Soaring Towards $281 Price Level

Updated:

Monero (XMR) Price Analysis: January 02

In case the bears oppose the bullish movement at $249, price may reverse and face the support level of $220, which may decrease the price to low of $179 and $161. When the bulls break up the resistance level of $249, there may be an increase towards the resistance level of $281 and $300.

Key Levels:

Resistance Levels: $249, $281, $300

Support Levels: $220, $179, $161

XMRUSD Long-term Trend: Bullish

Monero is bullish on the daily chart. The crypto commences a bullish trend on December 20 at $179 support level. More pressure was exerted by the bulls and the former resistance level of $220 has turned to support level. The bullish momentum increases to test the resistance level of $249. Today, bears dominate the market and the price is pulling back.

Monero Daily chart, January 02

Monero price is trading above the 9 periods EMA and 21 periods EMA as a sign of bullish momentum.   In case the bears oppose the bullish movement at $249, price may reverse and face the support level of $220, which may decrease the price to low of $179 and $161. When the bulls break up the resistance level of $249, there may be an increase towards the resistance level of $281 and $300. However, the relative strength index period 14 is at 60 levels with the signal line displaying bearish direction which may be a pullback.

XMRUSD Price Medium-term Trend: Bullish

Monero is on the bullish movement on 4-Hour chart. The bulls gained more pressure and pushes the price towards the resistance level of $249 after broken up the former resistance level of $220. The resistance level of $249 was tested last week. The bullish momentum became weak and the price was pulling back before market closed last week.

Monero 4-hour chart, January 02

The price is trading below the 9-day EMA but above the 21-day EMA which indicate a pullback at $249 level. The relative strength index is below 60 levels pointing down to indicate sell signal which may be a pullback.

You can purchase crypto coins here.  Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!

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.