- The trading volume in the last 24hr of XMR Coin at the time of writing this article is -19.86%
- The price of XMR/BTC and XMR/ETH at the time of writing this article is 0.005168BTC and 0.078ETH respectively
- 20MA is crossing the 100MA in a downward direction
LONG TERM ANALYSIS:-
In the daily chart price analysis we can see the 20MA is crossing the 100MA in a bearish direction which is a bearish sign as the price of XMR is above the 50MA and may take support on the 50MA as the price is failing due to bears taking control over the price. Let’s have a look at the technical indicator, we can see the MACD is showing a green histogram as the MACD line is above the Signal line. In addition to that we can see that the RSI is in the neutral zone near the 57.78 as the RSI line is pointing sideways, meaning the RSI line can go up or down depending on the volume of the Bulls or bears. Lastly we can see the Moving average as told above 20MA is showing a bearish movement and 50MA is above the 100MA which is also changing its direction and heading towards the 100MA.
SHORT TERM ANALYSIS:-
In the 4hr time interval we can see that the price is on the support of the 20MA if the bulls are able to bounce the price back up then it can change into the bullish or else the bearish. Looking at the MACD we can see that the MACD is showing the red histogram as the MACD line is below the Signal line. In addition to that we can see that the RSI is in the neutral zone near the 55.51 and we can see the RSI is pointing sideways. Lastly we can see the 20MA is acting as a support and 20MA,50MA is above the 100MA and there is no sign for the lines to change its direction.
CONCLUSION:-
We can see that the price is falling in both daily and 4hr time intervals and with a huge volume as the price is taking support on 20MA but will break soon as the volume is unusual. Looking at all the indicators we can see the trend is Bearish as the bears are winning the fight with the bulls and all indicators support the bearish trend.
RESISTANCE:-$285,$300
SUPPORT:-$270,$258