- The XMR coin price breaks above the EMA-55 during intraday.
- The 24-hour trading volume is at $248 million.
- XMR/BTC pair is trading positive by 1.8% at 0.00405551 BTC.
On the daily price chart of XMR coin, Moving Average Exponential (EMA), consisting of 8,13,21,55-EMA, Acts as reliable support in the coin price movement. Investors may observe the price crosses above the yellow line, so until the price resides above all the EMA’s, it will assure an uptrend in Monero.
Trading volume (42.985 K) is below the 20-day moving average (99.305 K). The volume is moderate, so the cost is moving upside. Investors may also notice that the volume bar on the chart decreases. This indicates that unusual volatility is common on the following trading days.
Monero (XMR) Coin Price Gradually Moving Towards The Supply Zone
XMR coin daily price charts show a positive trend. Based on the price action, the supply zone is located at 325- 330 USD. On the other hand, the demand zone to look for is 210- 230 USD. Therefore, the chart shows a bullish engulfing candlestick pattern during the day.
The RSI indicator gave a signal (bullish) with 55, projecting a buy signal in the currency for the short-term. Investors can observe an inclined slope from 33 to 55 on the index. It can rise in future trading sessions.
The MACD indicator gives (bearish) cross over the signal line on October 16, demonstrating a sell signal in the coin. Additionally, Investors can see decreasing red bars on the Histogram index.
Conclusion
Monero is currently trading at $269.39 with a 24-hour trading volume of $248,585,134. The price of XMR has increased 5.6% in the past 24 hours. There are 18 million XMR coins in circulation, and the total supply is infinite.
The RSI signals buying action, and MACD points to a sell signal. The traders have prompted moderate volume. In fact, the cost is slowly moving towards the supply zone. Likewise, the general market outlook is that this pattern will continue to rise over the next few trading days.
Resistance Level: $325- $330
Support Level: $210- $230