- XMR shows a slow decline move, struggling near $150.
- Buyers are looking to attempt a bounce.
Monero coin flowed in a narrow range, trading within the psychological level of $150 and keen to interpret the seller’s cruise. Buyers continue accumulating the coin price and peeking forward for a rebound.
Moreover, the XMR coin stayed below the significant moving averages in the last session. However, bears are attempting to split the strength of bulls, but the price is trading just on the brink of the support mark of $150.
XMR coin is also looking to smash the lid of the neckline near $160, which was the nearest hurdle. If buyers thrive in crossing above it, then momentum will improve. The buyers are trying to acquire traction from the last sessions, as trading volume shows a significant upside, and the technical parameters indicate a bounce in the upcoming sessions.
When writing, XMR coin trades at $153.08 with an intraday gain of 0.22%. Moreover, the trading volume shows an upside of 3% overnight.
Monero (XMR) Daily Charts Shows Lose in Traction
On the daily chart, the XMR coin is violating the downside of the symmetrical triangle pattern, but buyers are pushing to hold their puff. Moreover, buying confidence arises based on price action, suggesting an upside towards $160.Furthermore, Monero coin from the last months maintained the gains in a narrow range between $150 – $170.
As per the Fib price level, XMR coin is trading near the 61.8% level, which shows worthy retardation from the top of $190. Moreover, the coin is taking support on the lower Bollinger band and holding the gains
What Traditional Indicators Say ?
On the 4-hour chart, the XMR coin is trading within the bar of $150, and the price is consolidating near the round mark of $150. Moreover, the Stochastic RSI indicates that the trend is strong as SR is near 76.
MANA token breaks the immediate support mark of $0.4500 and slips below the 20-day EMA, making buyers trapped.
Monero coin shows that the price is ready to show a bounce as positive outlooks are noticed on the chart. The bulls are trying to attain gains, and XMR is trading on the verge of the lower Bollinger band.
The RSI curve is near 50 but shows a negative crossover which signals that sellers are willing to break towards the oversold region to gain momentum and deliver a breakdown of the symmetrical triangle pattern.
The MACD curve shows a convergence of both the moving averages and does not suggest any clear views. Moreover, the signal curves do not favour buyers in comparison to sellers. Sellers are dominating in the last trading sessions with lower trading volumes.
Conclusion:
Monero coin is willing to break the immediate support and try to move below the barrier of $150.
Technical Levels:
Support Levels:$150
Resistance Levels:$165 and $170
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.