- XMR coin bears reclaimed the 200-day EMA
- The XMR/BTC pair was trading at 0.005309 BTC with a loss of 0.9%
- The 24hr trading volume of the XMR coin is $119.7 Million
The XMR coin indicated the end of its moderate retracement phase on 22nd September when the price bounced off the 0.786 FIB level by a bullish engulfing pattern. Later the price consolidated a bit between this support and 200 EMA. Anyhow, on 30th September, the price was able to break out from the 20 EMA line. The coin price is still trying to sustain above these EMA and obtain strong support from it.
Concerning the EMAs, the XMR coin shows a bullish outlook as the price is moving above the 200 EMA.
The RSI is currently at 49, indicating a slight bearish emotion in this coin. However, the RSI line has shown a strong surge in its value concerning the current price action.
The XMR Coin Crypto Chart In The 4hr Time Frame
As mentioned above, the price has crossed above the crucial 200 EMA or, in the technical chart, $251 resistance level. The price was trying to retest this level for proper support; however, it is still wavering above the broken resistance even after two trading days. This small consolidation has created a narrow range in this chart, from which if the price manages to break free, the crypto trades can grab a decent trading opportunity for them. The current price of the XMR coin is $254.3, with an intraday loss of 1.83%,
The MACD indicator (BULLISH) shows both the MACD and signal lines are moving above the neutral zone(0.00), indicating a bullish momentum for this coin. However, the indicator has also displayed a bearish crossover, projecting a sell signal.
Conclusion: From the technical perspective, the XMR coin still indicates a bearish outlook as the price is struggling to provide a proper follow-through crossing above the 200 EMA. However, the XMR traders can use the narrow range of the retest to trigger an entry signal when the price breaks out from this consolation.
Support– $251
Resistance- $261