Price of Monero (XMR) can increase further

Updated:

Checkmark

Invest at least $250 in D2T to gain lifetime access to our VIP Signals

Checkmark

Get early access to Dash 2 Trade’s Presale. Buy the D2T token now

Checkmark

Existing community of 70,000+ traders

Checkmark

Unlocks access to the leading crypto trading analysis, signals and trading tools

Checkmark

As featured in CryptoNews.com, FXEmpire.com, FXStreet.com and more

Checkmark

World class development team backed by Quant developers and VC investors


Monero market may see an increase of buyers

Monero (XMR) Price Analysis: 01 January

In case buyers are successful in pushing the price past the $152 resistance level, Monero may move upward into the $165 and $185 resistance levels. The price may fall into the $144, $134, and $124 support levels should $152 resistance level holds.

Key Levels:

Resistance Levels: $152, $165, $185

Support Levels: $144, $134, $124

XMRUSD Long-term Trend: Bullish

Monero is advancing on the daily chart. On November 9, the currency hit a low of $115 due to a strong bearish trend. After the bulls successfully held the $115 support level and broke the $124, $134, and $144 resistance levels. The $152 resistance level was tested on December 13 and pulled back to retest the support level of $146. The Monero market may be dominated by bulls this upcoming week.

Monero price is attempting the dynamic resistance level and may soon start trading above the 9-period EMA and 21-period EMA. In case buyers are successful in pushing price past the $152 resistance level, the price may move upward into the $165 and $185 resistance levels. The price may fall into the $144, $134, and $124 support levels should $152 resistance level holds. The relative strength index period 14 signal line is at 57 levels and is pointing up.

XMRUSD Price Medium-term Trend: Bullish

Monero is rising on the 4-hour chart. The downward trend stopped as it reached the $115 support level. As the bulls gained more momentum, the price moved further north. The resistance level of $144 has been overcome on the upside. The price is currently facing $152 resistance level.

Indicating bullish momentum in the Monero market, the price is currently marginally above both the 9-day and 21-day exponential moving averages. At level 67, the Relative Strength Index is rising, signaling a buy.

You can purchase Lucky Block here.  Buy LBLOCK

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 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
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
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.