Monero (XMR) Price: When Will Breakout Take Place?

18 July 2021 | Updated: 18 July 2021

Monero (XMR) Price Analysis: July 18

The sellers are putting more pressure on the coin, and the price may slide downwards, the support level of $189 may be penetrated downside and the support levels of $161 and $136 may be the target. Failure to break down the support level of $189 may result to up trend towards the resistance level of $244, $281, and $322.

Key Levels:

Resistance Levels: $244, $281, $322

Support Levels: $189, $161, $136

XMRUSD Long-term Trend: Ranging

XMRUSD is ranging on the daily chart. XMR reaches high of $281 on June 03, the bearish engulfing candle appeared at the resistance level of $281. The price dropped to the support level of $189. The support level of $189 holds and the price bounces towards the resistance level of $244. The price tested the support level of $189 twice, currently the price is ranging within $244 and $189 levels.

XMRUSD daily chart, July 18

The 21-day EMA is above the 9-day EMA on the daily chart with the price trading below the two EMAs. The sellers are putting more pressure on the coin, and the price may slide downwards, the support level of $189 may be penetrated downside and the support levels of $161 and $136 may be the target. Failure to break down the support level of $189 may result to up trend towards the resistance level of $244, $281, and $322.

XMRUSD Price Medium-term Trend: Ranging

Monero is on the ranging mode on 4-Hour chart. The price tested the support level of $189, 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 $189. In case the resistance level of $244 holds, the price may break down $189 price level.

XMRUSD 4 hour chart, July 18

The 9-day EMA is interlocked with the 21-day EMA and the price is trading over and around the two EMAs, which indicate that consolidation is in progress.

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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.