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- Monero trading at the level of $133 makes a new 52- week high and trading up by 10% in 24-hours
- The coin shows a bullish movement from the last seven days and gains 24%
- After making the low of $100.50 a bullish move is observed on the monthly chart to the level of $133
Over the monthly chart, a bullish movement is observed in the altcoin and from the low to $100.50 and trading at the level $130. A bullish movement helps Monero to break the major resistance of $120 and after clearing the major resistance the coin is trading in the uncharted price level. The market capitalization of the coin stands at $2,325,875,128 and the volume of the coin rose sharply to $1,409,522,575 over last 24-hours helps the coin to make its new 52-high.
The minor support level of the coin is $121 and the level of $101.5 act as the major support for the cryptoasset.
Relative Strength Index (RSI) is making upper high over the RSI chart and trading above
The level of 50 is in a bullish zone and trading at the level of 73 in the overbought zone the indicator chart makers a rising channel over the chart.
Another indicator Commodity channel index (CCI) is trading in the uptrend and in the overbought zone indicating the bullish movement in the coin.
Moving Average Convergence Divergence (MACD) of the coin indicating the positive crossovers on the indicator chart helps the price of the coin makes an upwards movement. It suggested the bulls make a grip over the cryptoasset and the multiple crossovers are observed in the bullish zone however the crossover is very sharp indicating the clear uptrend in the Monero.
Supports: $121 and $101
The target: $ 170
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Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
