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- 1 The XMR price faces an immediate resistance mark of $180 for the past sessions.
- 2 It took support on the 20-day EMA and is holding the gains.
The XMR coin price formed a long-legged, bearish candlestick and bounced from the 100-day EMA in the last trading session. It showed a rejection from the upper neckline of $180 but also reverted from the lower trendline. Moreover, the price action indicates the incisiveness between the bulls and bears, where buyers attempt to stretch the reversal toward $200 but sellers want to diminish the buying momentum.
The XMR token price trades near the crucial support of $170 and the 20-day EMA mark. However, a harsh retracement was witnessed, and the price declined amid the neutral sentiments of the crypto market. Additionally, the XMR coin price noted a rebound from the lows of $135 and persisted in forming the higher highs by taking support on the lower trendline.
The live price of XMR crypto is $170.33, with an intraday drop of 3.01%, showing neutrality on the charts. Moreover, the trading volume increased by 3.27% to $120.47 Million. However, the pair of XMR/BTC is at 0.00401 BTC, and the market cap is $3.12 Billion. Analysts have maintained a neutral rating and suggest a volatile outlook for the upcoming sessions.
The XMR Coin Price Retested 50-Day EMA On Daily Charts
The Monero coin price witnessed a retracement on the daily charts and retested the 50-day EMA mark in the last session. However, the buyers struggle to hold the gains and face rejection from the round mark of $180. The price action displays the profit booking, and a double top pattern was noted on the charts.
The RSI curve stayed close to the neutral region at 55 displaying a negative crossover and hint profit booking on the charts. The MACD indicator showed a bullish crossover and formed green bars on the histogram suggesting that XMR crypto tries to catch $200 this month.
XMR On Weekly Charts Exhibits A Bullish Crossover
On the weekly charts, the XMR token price displays a slow & steady recovery from the bottom zone of $100 and surged over 75% in the past few trading sessions. Furthermore, the technicals show the buying accumulation; amid the crypto market pump, the token price slightly led an upward move and is close to the 200-day EMA mark.
Summary
The XMR coin price witnessed a pause and is showing a rejection from the prompt hurdle of $180 in the last session. Moreover, the price action indicates the profit booking, and the XMR token displays a retracement and may slip to the 200-day EMA in the following sessions.
Technical Levels
Support Levels: $60 and $55
Resistance Levels: $65 and $70
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
