Monero price prediction: XMR to $299 next, analyst

TL;DR Breakdown

• Monero price prediction expects a rise to the $299 level.
• Strong resistance lies at the $164 mark.
• Strong support lies at the $154 mark.

The Monero price prediction by the Trading View analyst The Cryer suggests that the cryptocurrency is ready to move towards the $299 target in a long-term move. On the 18th of January, the cryptocurrency’s price dropped to the $154 level.

1-Day Monero price analysis

At the time of writing, the XMR price stands at $154.620. The cryptocurrency currently has a market rank of 15 with a capitalization of $2,742,737,686. The daily high for the alt was $160.79, with the daily low at $150.75 for the 18th of January. The XMR price descended on the 18th of January and suffered from price fluctuations between $152 to $156.

The market sentiment shows that out of 28 technicals, nine are for a buy position, while nine stands neutral and 10 indicate a sell signal. Eight out of 11 oscillators are neutral and two stand in favor of a buying indication, while 1 is for a selling indication. The moving averages depict a neutral market sentiment with seven at the buying indication, one at neutral, and nine at the sell indication.

Across the 1D time frame, we see that the midline has been acting as support for the XMR price over the last few days. As the cryptocurrency continues to test the midline, there is a chance to slip below this range with a new target price near the lower Bollinger band at $126. The Bollinger bands also depict an increase in expansion.

Monero price prediction: What to expect?

Trading View analyst The Cryer is certain that XMR price will rise towards $299 after moving long. The cryptocurrency was expected to have its price dropped to $153 before this ascension. On the 18th of January, the price descended towards the $153 level.

Per this Monero price prediction, the best buying position – in green – lies between $100 to $150. This shows that the price is in a good buying zone at the moment, with a long position target towards $300. The idea shows a big descending triangle that the cryptocurrency broke towards the upside in Q4 2020. The price is expected to go long following the retest after the breakout.

Analyst Crypto Guru highlighted support and resistance levels on the 1W time frame for XMR/USD. Per their Monero price prediction, the cryptocurrency will rise towards $370 or drop lower to the $90 support if the markets crash. The crypto asset features higher highs and higher lows on the weekly charts; this suggests price ascension in the long term. Once the price breaks through the first resistance or support, it is expected to move towards the next one per the analyst’s idea. Currently, the XMR price seems to be heading towards the $140 support.

Analyst Eralp Buy Ukaslan believes that the cryptocurrency will head towards the $135 level in a short position. We can see an ascending trend line in this Monero price prediction, below the flat support level at $135.1. The ascending trend line should provide enough support for the cryptocurrency to halt its bearish descent if it retests the $135 mark during the short-term trade.