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- Monero coin price is currently seeing a strong upside momentum which can lead it to a new high. It is trading with a gain of more than 3% in the intraday session
- XMR coin technical indicators hints towards an upcoming bull rally for the price. Meanwhile, XMR/BTC pair has seen a loss of more than 1.8%
XMR coin price is currently seeking to break past the barrier of $300 and reach a new high . Monero price has seen a gain of more than 2% and is trading near the value of $242. XMR coin price while being on an uptrend may face a hostility near the value of .$280. The support region in Monero while going upwards can be seen near $200. Monero price is currently trading below the 50MA and 100 MA and can soon give a breakout above it. The 100MA line is near the value of $247, making it a hostile region for the asset price. The breakout of the price above the 100MA can give a push to the price required to reach a new high. XMR/BTC can also observe a new high being formed in the future. One can invest in Monero as per the price action and risk adversity.
Monero market dominance and the market cap is seeing a recovery after a significant drop. The volume of the XMR has also seen a surge which can push the price to a new high. Volume to market cap ratio for the Monero hints towards an uptrend in price for the future.
XMR Coin Price May Soon Rally To The Moon
XMR coin price is currently observing a consolidated trend on the weekly chart. The coin price is currently looking to give a positive breakout for a new high in the price . The daily chart of the Monero hints towards a consolidated momentum in price. If the price of the Monero jumps above $300 then a strong bullish trend can be seen. One can invest in XMR as per their needs and risk adversity.
CONCLUSION
XMR coin price is currently seeing a consolidated momentum but can soon breakout to a new high . XMR/BTC pair can also see a strong upside momentum in future. One should do their due diligence before investing in XMR
TECHNICAL LEVELS
Major Resistance:$300
Major Support:$200
