- Monero price plunge below $240 to $216 on Tuesday’s trading session
- The 24-hour volume in XMR is at $576,488,762 with a 7.60% increase.
- The XMR/BTC pair was trading at 0.00399 BTC with a loss of 2.25%
The 4-hour technical chart of Monero price action projects a downtrend. According to pivot points, XMR’s critical support levels are placed at $215 and $201 . Whereas if it moves up, the key resistance level to watch is $240. While diving into the weekly chart of a 4-hour time-frame, it completes a bearish hammer candlestick pattern representing downward movement.
SMA-20, 50 & 100 acts as another strong support in the coin. SMA-20 (purple) has stuck to the SMA-50 (white) and is looking for a negative crossover, which projects a bearish trend. The price is also below SMA-100 (yellow). Investors may perceive SMA-20 and SMA-50 are going to intersect in the future trading sessions, and the price will also follow the negative trend.
RSI indicator (BEARISH), with a value of 31.75, indicates a sell signal in the coin. Moreover, Investors can see a downward slope from 53 to 31 in the index, which may plunge more in future trading sessions.
Bears Hunting Monero Price Action
Monero price traded at $216 with a loss of 7.80% in the last 24-hour and 3.20% down in the weekly time-frame. Furthermore, Monero price plunges below the resistance of $240. In contrast, the market capitalization stands at $3.86 billion. Technically, investors can perceive a negative crossover in SMA in future trading sessions, Moreover, the price movement can be towards the next support of $201.
Support: $215, $201
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