Monero News

Monero price prediction: XMR to $151 ahead, analyst

TL;DR Breakdown

  • Monero price prediction expects a rise to the $151 mark.
  • Strong resistance is found at the $148.5 mark.
  • Strong support is found at the $144 mark.

The Monero price prediction by Berzerk Invest suggests that the cryptocurrency will rise towards the $151 mark to test the resistance. The XMR price rose above the $148 mark on the 2nd of January after breaking above an important resistance near the $146 level.

1-Day Monero price analysis

Bitcoin Cash price chart by Trading View

The XMR price is seen rising on the charts for the 1st and the 2nd of February, where the coin crossed the $148 mark on the 2nd of February after forming an ascending slope. Monero stands at $148, whereas the highest price for the cryptocurrency in the past 24-hours was recorded at $148.09, while the lowest price for the crypto asset was recorded at $142.98.

As for the market sentiment, the technical indicators show the crypto asset in a buyers’ zone. 14 out of 26 of the indicators show a buy indication, with ten in the neutral region and two in the sell region. Two out of the 11 oscillators indicate a buy signal, while the rest of the nine are in the neutral region. 12 out of 15 moving averages show a buy indication, one is in the neutral region, and two depict a sell signal.

Across the 1D time frame, the XMR price just broke above the Bollinger bands’ midline, near $145. This suggests that the cryptocurrency is headed towards the $165 mark, where the upper Bollinger band is placed. The cryptocurrency’s price is about to move in a long entry.

Monero price prediction: What to expect?

The Trading View analyst Berzerk Invest suggests that the cryptocurrency will rise towards the $151 mark up next. Per the Monero price prediction, the cryptocurrency has been ascending on a long trend line, and it has recently broken above an important resistance level at $146. If the market continues to stay bullish, the cryptocurrency should move in a long position with a target price of $151.515.

Monero price prediction chart by Berzerk Invest

The trade volume for cryptocurrency can be seen increasing. The analyst discussed that a cup and handle pattern could be observed with a strong bullish trend line on the bigger time frame. The XMR price should test the $151 mark, and then traders will expect a breakout here.

In his MOnero price prediction, Trading View analyst Mahdi Azimi believes that the XMR price is trading inside a big ascending parallel channel. The cryptocurrency’s trajectory is headed for the midline of the main channel and the price is expected to break towards the upside. Per the Monero price prediction, a retest will follow trend line’s to the breakout, and the price will see a bullish continuation afterward. A falling wedge pattern was also broken by the cryptocurrency in July 2020, after which the price can be seen trending upwards on the weekly time frame.

Analyst Moon predicts that the XMR price will rise upwards after completing the Gartley bullish pattern. The Monero price prediction shows that the XMRUSD pair is supported by the 50-Day and the 100-Day Simple Moving Averages with a loss possibility of 10 percent.

This post was last modified on February 4, 2021 5:49 am

Taha Farooqui

Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.

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