- Monero coin price has given a positive breakout on the daily chart and can soon see a new high. It can reach beyond$300 in the future.
- Technical indicators suggest a bullish momentum for XMR coin price . Meanwhile, XMR/BTC pair is seeing a downtrend with a loss of 6% in the intraday session.
XMR crypto price is currently observing a strong bullish momentum and can soon reach beyond $300. Monero price is currently trading near the value of $228 and has seen a gain of more than 7% in the intraday session. The bullish momentum of the XMR coin price while going upside can see a halt near the value of $300. The support region for the token on the downside can be observed near the value of $200. Monero price is currently trading above the 50 and below 100 Daily Moving Average. The 100MA (Blue) line is near the value of $284, making it a temporary resistance area for the price. XMR/BTC is observing a bearish momentum and can soon revert back to the uptrend. One can invest in Monero as per the price action and their risk capacity.
Monero token has a market dominance of more than 0.27% and is ranked 27th in the CMC. The volume of XMR has observed a gain of more than 66% in the intraday session. Volume to market cap ratio for the coin is 0.06 suggesting a bullish momentum in price.
Technical Indicator Hints Strong Bullish Momentum For XMR Crypto Price
The weekly technical chart of XMR coin price highlights a strong bullish momentum for the price. The coin has observed a gain of 15% in the weekly time frame. The daily chart of the coin highlights a strong bullish momentum in price. XMR coin has made a strong bullish engulfing pattern on the daily chart. If the price of the Monero jumps above $280, then a strong bullish trend in the price can be seen. One can invest in the XMR as per their risk capacity.
CONCLUSION
XMR crypto price is currently seeing a bullish momentum and can soon cross to beyond $300. It has a very high ROI which has always benefited the investors. XMR/BTC pair can also see a strong uptrend. One should do their due diligence before investing in Monero.
TECHNICAL LEVELS
Major Resistance:$300
Major Support:$200