- XMR coin chart shows the 20 and 50-day EMA are on the verge of giving a bullish crossover
- The XMR/BTC pair was trading at 0.006253 BTC with a gain of 0.36%
- The 24hr trading volume in XMR coin is $236.5 Million
The XMR coin continues with its bullish rally after showing a minor pullback to the $226 support level. Furthermore, the price has just given a breakout from the $250 resistance level, which could trigger a great long opportunity in this coin. The current price of the XMR coin is at $255.33, with a 0.96% gain and is trying to sustain above it.
Concerning the EMA’, the XMR coin is trading above all the crucial EMA’s 20, 50, 100, and 200, indicating a solid bullish trend formation. In addition, the 20 and 50 EMA’S are soon to give a bullish crossover, providing more confirmation to the market bulls.
The RSI (BULLISH) value is at 66, indicating a strong bullish sentiment in the coin.
XMR Coin Crypto Chart In The 4hr Time Frame
The XMR shows a clear picture of the new bullish rally supported by an upcoming ascending trendline. Thus, until this trendline is intact, it could provide excellent entry for XMR traders when the price shows a pullback to this trendline.
Moreover, the 4hr time frame chart shows some excellent confluence with the traditional pivot level, providing more confirmation in one’s trade.
The MACD indicator (BULLISH) shows that both the MACD and signal lines are moving higher to the neutral zone(0.00), indicating bullish momentum in the coin. In addition, the indicator also shows the rising green bars on the histogram chart.
Conclusion: From the technical perspective, the overall trend of the XMR coin remains bearish. However, with the breakout of the $250 mark, the price action provides an excellent opportunity for market participants looking for a long entry in this coin. Thus, if the price manages to sustain above this level, the XMR traders can expect a target of the $287.3 mark.
Resistance– $266.7, $287.3