Monero (XMR) Price Tests $144 Support Level, What Next?

There may be a pullback in Monero market

Monero (XMR) Price Analysis: 26 February

In case the XMR successfully lowered below $144, it may drop to levels of $134 and $124. If the $144 support level holds, the price might increase to the resistance levels of $152, $168, and $185.

Key Levels:

Resistance Levels: $152, $168, $185

Support Levels: $144, $134, $124

XMRUSD Long-term Trend: Bearish

Monero is bearish on the daily chart. Last week, the price fluctuated between $168 and $152. The coin’s low point on November 9 was $115. The purchasers defended the suggested level. The price crossed over the prior resistance levels of $144 and $152. On January 29, the $185 resistance level was approached, but it was unable to cross it. The bearish engulfing candle that formed shows an increase in the momentum of the sellers. The price dropped and reached $152 as a level of support. It pulled back, and later, sellers gain more pressure and $152 level was broken downside and $144 level was tested.

The price of Monero is below the 9-period and 21-period EMAs. In case the Crypto successfully lowered below $144, it may drop to levels of $134 and $124. If the $144 support level holds, the price might increase to the resistance levels of $152, $168, and $185. The relative Strength Index period 14 signal line is trending downward at level 40, signaling a sell.

XMRUSD Price Medium-term Trend: Bearish

Monero is bearish on the 4-hour chart. The cryptocurrency price fluctuated between $152 and $168 last week. On January 14, the $185 resistance level was challenged; the sellers resisted the movement. It retreated and made an effort to hold support at $152 by moving back. Bears eventually prevailed over the bulls and the support level of $152 was penetrated and $144 level was tested and currently pulling back.

Monero trades between the dynamic support levels, indicating a bullish pullback movement. The Relative Strength Index is leaning upward at $45, signaling a buy.

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