Monero (XMR) Price Is Struggling to Break Up $218 Resistance Level

Updated:

Monero (XMR) Price Analysis: April 03

The breaking up of the resistance level of $218 may result to further price increase towards the resistance levels of $250 and $293. Failure to break up the resistance level of $218 may send the price down to the support levels of $185, $142 and $122.

Key Levels:

Resistance Levels: $218, $250, $293

Support Levels: $185, $142, $122

XMRUSD Long-term Trend: Bullish

On the daily chart, XMRUSD is on the bullish movement. On the daily chart, Monero price continue to obey the command of the bulls after the formation of a bullish chart pattern called double bottom formed at $142 level. The price increase to test the resistance level of $218. Today, the price is trying to penetrate the resistance level of $215.

daily 2

Buyers are exerting more pressure on the Monero market, the price is trying to break up the resistance level of $215. The price is trading above the 9-day EMA and the 21-day EMA on the daily chart. The breaking up of the resistance level of $218 may result to further price increase towards the resistance levels of $250 and $293. Failure to break up the resistance level of $218 may send the price down to the support levels of $185, $142 and $122.

XMRUSD Price Medium-term Trend: Bullish

Monero is bullish on 4-Hour chart. The bulls gained more pressure and push up the price. The price eventually breaks up the resistance level at $185. It is increasing gradually towards the resistance level at $215. There is tendency for the price to break up the $215 level provided the bulls increase their pressure.

4hour chart

The 9-day EMA is above the 21-day EMA and the price continue its trading above the two EMAs, which indicate that bulls are in control of Monero market.

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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.