- The XMR coin chart shows a long consolidation period in the daily chart.
- The XMR/BTC pair trades at 0.004113 BTC with a fall of 3.08%.
- The 24 hr volume for XMR coins is $361 Million, indicating a 4.56% fall.
The XMR coin price action makes an excellent long consolidation range in the daily chart. As a result, the price action gives a superb entry opportunity that awaits the breakout of either side. Hence, traders need to keep an eye on the price chart for a breakout.
The XMR price shows a slightly bullish trend, with its price trading higher than a few crucial EMAs 100 and 200. Moreover, the coin chart shows a bullish alignment of the crucial EMAs which can support the prices during the downfall.
The coin price shows lower price rejection; however, the pivot points indicate support levels at the $220 and $180 mark if the price retraces back. Moreover, on the flip side, the resistance levels are at $320 and $375.
The XMR Coin In The 4hr Time Frame Chart
As mentioned above, the XMR coin price is within a consolidation range in a sideways trend. However, the recent bearish candlestick formation indicates a reversal in the coin price from the range’s resistance. Hence, the underlying selling pressure is increasing.
At press time, the coin price is $266, with a downfall of 6.56% in the past 24 hours. Moreover, the intraday trading volume of Monero has fallen by 5%.
The RSI indicator signifies neutrality in the price trend as the slope moves close to the central line. The slope and price action are not divergent. The indicator, therefore, gives a neutral signal.
MACD indicators indicate that the MACD line and the signal line are moving sideways in the daily frame. These lines are also intermingled. Thus, it creates a neutral signal.
Conclusion: From a technical perspective, the XMR coin shows an impressive consolidation range forming in the daily chart. And as mentioned, the breakout of either side will give an excellent entry opportunity.
Support – $220 and $180
Resistance – $320 and $375