Monero Price Analysis: XMR Sees a Positive Price Difference Due to the 5-Day Long Bullish Trend

  • Monero has come up with a bullish price scenario over a week, continues to give positive signs
  • XMR appears to have a support level at $74.72, also, the bullish trendline is anticipated to act as a support level
  • Yesterday, the coin had a close around $90, may cross the price mark again

Monero has been trading with a bullish impact against U.S.Dollar since the last 5 days. The coin has witnessed how its price has been uplifted notably, due to Bitcoin’s recent price rally above $10,600.

5 days ago, XMR was trading at $78.58 and it saw a price plunge at $74.72. Seeing a support level here, XMR steadily surged above $83 with an increase of 11.46%. The coin corrected down to $78.08 and again took a rebound. XMR maintained its price range from $80 to $83 till it saw another price surge on 18th August.

Since the last couple of days, XMR has been steadily moving up and yesterday it even reached as high as $90.55. The coin is correcting down at the moment and is at $88.32 at 05:01:04 UTC.

XMR/USD Price Chart

Monero Price Chart
Monero Price Chart

Monero’s current price is above its 5-day SMA of $85.90 along with its 50-day SMA of $87.18. Its long term SMA is about to slip below its short term SMA, which indicates a bullish price move. And hence, according to Monero price projection, XMR is trading in ‘buy’ phase.

Monero Price Prediction & Technical Indicators:

The MACD chart of the coin is moderately volatile and is entering bullish zone with its MACD line above its Signal line. RSI for the coin is above 50, showing no extremities. XMR may face resistance at $92.28 and support at $ 82.65.

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on the world's leading digital currencies.

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