Monero price analysis: XMR price falls to $78

Monero price analysis is not much different that of EOS and Binance Coin today since almost all cryptocurrencies are taking a dip.

Monero (XMR) price had been struggling to hit past the golden mile at one hundred dollars ($100) but to no avail.

Monero price analysis: XMR price falls to $78 2
Monero price chart by Trading View

Now it seems that what was just a small difference has now been widened with the XMR price drop to seventy-eight dollars ($78.713) mark.

Monero price has, however, still not hit the monthly low recorded at seventy-two dollars ($72.5) on the 17th of July falling from the eighty-seven dollars mark ($87.497).

The monthly high was recorded at the ninety-seven dollars ($97.273) mark on the 7th of August, however, the price the XMR price fell down to ninety dollars ($90) mark on 10th of August.

Monero price had been hovering around the ninety dollar mark ($90) until the fall today.

Monero price analysis: Resistance/Support

Monero (XMR) has fallen below the moving averages as well as the support of the ascending channel that the pair has been following.

The moving averages have started falling and the RSI is below the fifty (50) level. All these indicators show that the bears are currently in charge.

Monero price analysis: XMR price falls to $78 3Monero price chart by Trading View

A downward move can plunge the price to seventy-seven dollars ($77) and further below to seventy-two ($72) marks.

On the other hand, an upward move can take the price to ninety-eight and a quarter ($$98.2939) dollars before facing any significant resistances. Above that price can recover much more smoothly.

Advertisements