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- 1 XMR price showcased a double bottom formation and is awaiting a pullback. .
- 2 Buyers are showing their potential and are eager to surpass the prompt hurdle of $150.
The XMR price displayed a rejection from the 200 day EMA mark and slipped below the key moving averages, directing the profit booking. Moreover, the price action signifies the selling pressure and the token could not manage to hold gains and is trading near the demand zone around $120. However, the trend is neutral and the token has persisted in trying for a pullback amidst the bearish market sentiments.
At press time, the Monero (XMR) price was $120.11 with an intraday gain of 1.32%, reflecting neutrality on the charts. It has a monthly return ratio of -12.28% and -13.20% yearly. The pair of XMR/BTC is at 0.00184 BTC, and the market cap is $2.21 Billion. Analysts are neutral and suggest that the XMR token may retain strength and will retest the 100 day EMA mark soon.
XMR Price Volume Profile Analysis On Daily Charts
The chart displays the price-to-volume profile of the XMR token and replicates the retracement in the past sessions. The token is trading near its crucial support region around $110 – $120 and buyers are attempting for a rebound. Intraday trading volume dropped over 2.10% to $44.96 Million.
Price Volatility and Weighted Sentiment Outlook
Per the Santiment data, the token displays nominal fluctuations in the price volatility curve in the last sessions. The price volatility curve noted a fall over 2.90% to 0.013. However, the weighted sentiment looks positive and stayed above the midline around 0.103.
Social Dominance and Social Volume AI Overview
The social dominance data noted a drop and dragged below the midline, a decline over 12.40% to 0.345%, noting a decrease in the discussion reports. Conversely, the social volume AI value replicated a surge and bounced to 63 mark.
Development Activity and Total Open Interest Insights
The development data witnessed a follow-on decline, losing over 11.67% and slipping below the midline near 7.21, showing a neutral outlook. However, the derivative data signifies short buildup data, the open interest increased over 3.12% to $10.44 Million in the last 24 hrs.
Per the Fib levels, Monero price is hovering near its support zone around the 23.6% zone and delivered lack of momentum. Similarly, the RSI curve stayed in the oversold region, and a positive crossover was noted on the charts.
The total supply of the ADA coin is 18.43 Million, whereas the volume-to-market cap ratio is 0.0204, and it is ranked 50 in terms of market cap in the global crypto market.
Summary
The Avalanche price signifies a retracement move and has dragged below its key EMA’s mark. Moreover, the token has displayed a rejection from the supply mark of $140 and faced selling pressure in the past sessions.
Technical Levels
Support Levels: $110 and $100
Resistance Levels: $125 and $135
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.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
