- Monero coin price is currently observing a downside momentum which can lead it to a new low soon. It has seen a loss of more than 0.25% in the past 24 hours.
- XMR coin technical indicators suggest a bearish momentum in price. Meanwhile, XMR/BTC pair is down by more than 3% in the intraday session
XMR crypto price is currently observing a downside momentum which can lead it to a new low in the future. Monero’s price is currently near the value of $268 and is down by more than 0.2% in the past 24 hours. XMR coin price upside trend might face resistance near the value of $300. The bounceback region for Monero can be found near $200. Monero’s price is currently trading near the 50 and above 100 Daily Moving Average. The 50MA line is near the value of $265, making it a temporary support region for price. The breakdown of the price below the $200 can push the price further below. XMR/BTC can also see a new high in the future.
Monero’s market dominance and the market cap is seeing a drop despite the rise in the market. The volume of the XMR is also seeing a surge in the past few days. The volume to market cap ratio for the Monero suggests a strong uptrend for price. One can forecast strong growth in Monero in future
XMR Crypto Price Observes A Downside Momentum
XMR coin price is currently seeing a consolidated trend on the daily chart. It is down by more than 3.8% in the weekly time. The coin price is currently seeing a downtrend but can soon revert to the uptrend. The daily chart of the Monero suggests a bearish trend in price. There is a formation of a strong supply zone in the daily chart. If the price of the Monero jumps above $300 then a strong upside momentum can be seen. One can invest in XMR as per their needs and risk adversity.
CONCLUSION
XMR coin price is currently observing a downside momentum but can soon revert to the uptrend. XMR/BTC pair can also observe a new high in the future. One should do their due diligence before investing in XMR.
TECHNICAL LEVELS
Major Resistance:$300
Major Support:$200