- XMR token price action projects an uptrend on intraday session
- The 24-hour volume in XMR is at $625.55 Million
- The XMR/BTC pair was trading at 0.007863 BTC with a 25% gain
The 4-hour technical chart of the XMR token price movement exhibits vast buying pressure, which increased in price. According to the Fibonacci retracement, the XMR significant support level is $260. Whereas if it moves up, the initial resistance level to watch is $320. The technical chart shows a bullish engulfing candle describing bulls are in complete control of the coin.
The Stochastic (Overbought) with a value of 77 presents a buy signal in the coin. Investors may observe an inclining slant from 30 to 77 in the index. It may remain in positive territory for the upcoming trading sessions.
The Moving Average Exponential (EMA) consists of 50-EMA and 100-EMA, acts as a reliable support in the coin’s price movement. Investors may witness the red line is moving below the yellow line and the price pierced above EMA-50.
The volume of (1.86K) is upward of the Volume MA (900) of 20-days. High buying pressure is directed in Monero to drive its price to higher levels.
XMR token price traded at $287 with a 22% gain in the last 24-hour and a 9% gain weekly. Moreover, the cost of Monero witnessed a sudden spike up to $293.41 on an intraday session. In contrast, market capitalization stands at $4.97 billion. Technically, investors can perceive 50-EMA is below EMA-100, and the price just pierced through the EMA-50. Moreover, the Stochastic indicator forecasts an overbought scenario in the coin and values at 77. A large volume bar is visible in the chart. Additionally, the price movement may cool down a bit.
Resistance: $320
Support: $260