Monero Price Analysis: Will XMR Coin Price Sustain 200-day EMA?

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  • The investors and readers are keen to lift the price of the XMR coin to $200 by February.
  • The RSI is at 52 and has left the oversold zone.

The Monero crypto price has performed negatively for a long period of time and became stable. The XMR price has witnessed slow and steady gains for a year and it has risen by forming higher highs and lower highs.

The Monero crypto price has followed a trendline and has jumped by 9% from the trendline in a week.  Currently, the XMR price is facing resistance from the 200-day moving average and it is forming weak candlesticks.

The Monero crypto is trading at $160.40 and its market capitalization is $2.94 billion and in terms of the market cap, it ranks 29th in the cryptocurrency market. Its 24-hour trading volume is $52 million.

XMR Price Forecast Based on Technical Analysis

Monero Price Analysis: Will XMR Coin Price Sustain 200-day EMA?

According to the data on January 27, 2024, the Monero price prediction sentiment is bearish with 14 technical indicators giving bullish signals while 16 technical indicators are giving bearish signals.

Will Monero Crypto Price Reach $180 by Next Month?

Monero Price Analysis: Will XMR Coin Price Sustain 200-day EMA?
BINANCE: XMR/USD 1-Day Chart By TradingView

The Monero crypto price has been rising by taking support from the trendline and it has currently risen by 10% from the trendline and is facing resistance from the 200-day EMA. If the XMR price manages to surpass the 200-day EMA, buying momentum can be seen and it may then approach the $180 mark soon.

On the other hand, if the XMR coin price spends some time and slips below the trendline, sellers may dominate and selling pressure can be observed. If the XMR coin fails to defend the $130 mark, the price may fall to the $100 mark.

The Monero crypto is trending below the significant trendline which showcases the negative sentiment. The RSI is at 52 and it is slowly heading toward the overbought zone.

Technical Analysis of Monero Crypto Price Over Weekly Timeframe

Monero Price Analysis: Will XMR Coin Price Sustain 200-day EMA?
BINANCE: XMR/USD 1-Week Chart By TradingView

On a weekly time frame, the Monero crypto price has been rising through a parallel channel and the price is heading toward the resistance line. The XMR price has surpassed the 200-day EMA and it may reach the $180 mark soon if the buyers remain strong.

If the XMR coin price gives a breakdown and falls, selling momentum can be initiated. The MACD generated a negative crossover and the histogram is also red, indicating bearishness.

Monero Price Prediction FAQs

What is the XMR price prediction today?

The Monero crypto price is predicted to gain 1.81% to reach $162.9 by today.

What is the XMR price prediction tomorrow?

Based on our analysis, the Monero crypto price is forecasted to gain 4.01% to reach $167.1 by tomorrow.

What is the Monero price prediction for 2024?

Monero is expected to trade within a range of $122.38 and $276.693 in 2024. Reaching the upper price target would require the price of XMR to increase by 73.79% and reach $276.93.

What is the XMR price prediction for 2025?

According to our Monero price prediction, XMR is predicted to trade within a price range of $122.38 and $282.18 next year. If it achieves the upper target for 2025, Monero will see an increase of 77.28% and reach $282.18.

Summary 

Based on the technical analysis, the Monero crypto price seems to be under bearish momentum with some bullish signals. However, if the XMR price manages to surpass the 200-day EMA, it may approach the $180 mark soon. On the other hand, if the XMR price falls below the trendline, selling pressure may be observed. The price prediction for 2024 and 2025 shows a positive outlook overall. 

Technical Levels

Resistance: $180 & $210

Support: $150 & $135

Disclaimer

Investing in cryptocurrencies and other Initial Coin Offerings (“ICOs”) is especially volatile and speculative, and this article does not advise investing in cryptocurrencies or other ICOs. Since everyone is unique, a certified professional should be continually consulted before making any economic decisions.

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