Monero (XMR) Price: Resistance Level of $281 Holds, Bearish Pressure Increases

17 October 2021 | Updated: 17 October 2021

Monero (XMR) Price Analysis: October 17

The sellers may push the price down to the support level of $244 in which it may reduce to $189 provided $216 do not hold. In case the support level of $244 holds, bullish movement may continue to $281, $322 and $361 levels.

Key Levels:

Resistance Levels: $281, $322, $361

Support Levels: $244, $216, $189

XMRUSD Long-term Trend: Bearish

On the daily chart, XMRUSD is on the bearish movement. The bulls were not able to push the coin above the resistance level of $281 as speculated last week. The mentioned level holds and the Crypto was consolidating around the mentioned level for more than three days. The bears are gaining more pressure today and it is breaking away from the consolidation zone. The price is currently facing the support level of $244.

XMRUSD Daily chart, October 17

Monero is trading below the 9-day EMA and the 21-day EMA on the daily chart.  The sellers may push the price down to the support level of $244 in which it may reduce to $189 provided $216 do not hold. In case the support level of $244 holds, bullish movement may continue to $281, $322 and $361 levels. Meanwhile, the relative strength index period 14 is above 30 levels pointing down to indicate sell signal.

XMRUSD Price Medium-term Trend: Bearish

Monero is bearish on 4-Hour chart. The resistance level of $281 holds and the bulls could not break up the mentioned level. Buyers tried severally to break it up but their momentum could not withstand the resistance at $281. Sellers are gaining more pressure today and the price is declining at the moment towards $244 support level. Further price declination envisaged and the just mentioned level may be reached.

XMRUSD 4 hour chart, October 17

Monero is trading below the two EMAs, which indicate that bears’ momentum is increasing. The relative strength index is below 50 levels with the signal line displaying bearish direction.

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.