Price Analysis

Will Monero (XMR) Continue the Current Downward Movement?

Today, Monero’s price is experiencing heavy fall. The last couple of days have been quite volatile. However, yesterday, the traders were little relieved as the XMR price was seen trading upwards. Yesterday’s uptrend is reversed today.

Monero Price Analysis:

Yesterday, the coin started dealing at $62.15. The price escalated to $63.79 by 2.64%. Monero (XMR) kept it tight around the same level and later reached to $64.84 by 2.67% hike. During the closing hours, the XMR price slipped from $64.96 to $64.07 by 1.36%. The overall intraday movement brought a 3.11% profit. The closing price of the coin was $64.07. Today, Monero opened with heavy market pressure. The price slipped to $61.54 by 3.95%.

XMR to USD Price Chart
XMR Chart By TradingView

XMR coin is seen battling the bear from the opening hours. However, there is a slight improvement spotted in the price as it has moved to $62.10 from $61.54. The current price seems moving upwards. However, the possibility of escalation is quite thin, as Monero’s price is trading around its immediate support of $62.4. The traders interested in XMR coin are recommended to go for short-term investment. The same period would give the traders their desired result.

Resistance Level Price
R1$64.97
R2$66.05
R3$67.54
Supply LevelPrice
S1$62.4
S2$60.91
S3$59.83
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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.
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