- Monero price analysis shows remarkable difference from the last week.
- Price levels rise to $265.78, after receiving a downward push from the bears.
- Support levels slowly rising and have reached $242.11.
The 24-hours and 4-hours price chart is showing positive signs for cryptocurrency. According to the latest Monero price analysis, XMR/USD price has experienced a new high at $265 and the bullish momentum is still continuously at work.
The past few hours have been highly unfavorable for the coin value, as the price levels dropped down exceedingly. If the bulls gain strength, then there is an avid chance of cryptocurrency breaking past the resistance present at $264.
XMR/USD 1-day price chart: Bulls secure their lead after monumental setback
The one-day Monero price analysis is displaying positive highlights for the bulls to further strengthen their growth. The past week has brought damage to cryptocurrency a lot, but the price chart has seen recovery today. The price levels have climbed again to $265.8, which is a massive hit considering the disappointing trends during the past week.
There is still a long way till the current price touches the Moving Average (MA) value which is $264. The average value for the Bollinger bands is $257 and the volatility is decreasing for the bulls, which is a positive signal.
The lower graph is showing us the Relative Strength Index (RSI) score and it has regained stability at 52.8 as well. As said, the Bollinger bands are narrowing down with the upper price is present at $284.95, while the lower price is at $229.
Monero price analysis: XMR/USD manages to set out a strong comeback
The 4-hours Monero price analysis shows signs of commendable recovery for cryptocurrency, as the price levels overcome bearish momentum. Today, bulls have been able to successfully trail past $254. Earlier today, a crossover happened as SMA 20 curve went below SMA 50, causing major bearish momentum.
Yet, today the trend-line is in ascending motion, and the Bollinger bands average has also reached $262. The volatility is increasing which is a promising sign for the bulls as per Monero price analysis.
The RSI curve has also balanced at 43.94, after a lot of fluctuation because of the ongoing price variation. The Bollinger bands, on the other hand, are expanding with the upper value reaching $282.21 and the lower value stooping to $242.11. The moving average is showing us a mean value of $253.53, on the 4-hours price chart.
The overall trend for today has been quite tough to determine, hence the neutral signal is dominating. The summary shows that nine indicators are present at the neutral position, ten at the buying position whereas seven indicators are at the selling position. The Moving Averages indicators are predicting a buying momentum, and there are nine indicators at the buying spot, one at the neutral, and a total of five indicators at the selling spot.
As the competition has proved to be challenging for both sides, the oscillators are showing a neutral indication. There are two indicators on the selling side, eight at the neutral and one is at the buying side.
Monero price analysis conclusion
The general momentum today for XMR/USD has been bullish, and price levels have risen to distinct levels. The future trends are also expected to be bullish and there is a great possibility of the price levels shooting above the $254.76 threshold.
If the support levels are maintained then the Monero coin value can make a record-breaking recovery above $284.95, establishing a new high. If the support levels go lower than $242.11, then a bearish uphold can be expected.
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