Monero (XMR) Price: When Will There Be a Breakout?

Monero (XMR) Price Analysis: June 20

In case the bears increase their momentum, the support level of $244 may be penetrated downside, which may decrease the price to low of $189 and $161. When there is a breakout at $281 resistance level, Monero price will increase towards $322and $361 levels. Key Levels:

Resistance Levels: $281, $322, $361

Support Levels: $244, $189, $161

XMRUSD Long-term Trend: Bearish

Monero is bearish on the daily chart. The bulls are yet to push the price above the resistance level of $322. The bears rejected further price increase at resistance level of $322.  The bearish momentum pushes XMR towards the $189 last week but the bulls interrupts the downward movement. The price retraced back towards the support level of $244. The ranging movement continues within $281 and $244 levels.

Monero price is hovering over the 9 periods EMA and 21 periods EMA as a sign of low bearish and bullish momentum.   In case the bears increase their momentum, the support level of $244 may be penetrated downside, which may decrease the price to low of $189 and $161. When there is a breakout at $281 resistance level, Monero price will increase towards $322and $361 levels. However, the relative strength index period 14 is at 45 levels with the signal line displaying no specific direction.

XMRUSD Price Medium-term Trend: Ranging

Monero is on the ranging movement on 4-Hour chart. The sellers’ pressure is yet to break down the $244 support level. Likewise, the bulls’ pressure could not break up the $281 resistance level. Ranging movement continues as it was predicted last week.

The price is hovering over and around the two EMAs with the 9-day EMA interlocked with the 21-day EMA which indicate that consolidation is in progress. The relative strength index is at 45 levels pointing up to indicate buy signal.

You can purchase crypto coins here.  Buy Tokens