Monero price analysis: XMR/USD declines below $250 short-lived as XMR gets yet another listing on South Africa’s ICE³X exchange
|- Trading XMR/BTC will begin this coming Friday, while XMR/ZAR is set to take off on May 1.
- Indicators point towards higher consolidation for Monero price.
Monero price is retracing its steps after sliding below $250 level for the second time in two days. The buyers are eyeing the resistance level at the 23.6% Fibo while there is a growing bullish momentum close to $258. The price has not been able to break above the bearish trend line on the 15 minutes timeframe chart despite testing it earlier today.
Monero has received yet another listing on ICE³X, a cryptocurrency exchange platform based in South Africa a day after it was added to Dubai-based BitOasis exchange. The announcement was made on Thursday (today) and the users with existing accounts with the exchange can begin making deposits and withdrawals of Monero. Trading XMR/BTC will begin this coming Friday, while XMR/ZAR is set to take off on May 1.
Monero price is trading below the moving averages at the moment, besides the trend indicators have crossed at $261 to signal that XMR/USD could consolidate higher above $260 level. A short-term support has been formed at $255 to allow Monero price to gain momentum to recoil towards $260. The 23.6% Fib retracement level with the previous swing high of $298 and a low of $247 is a hurdle as the price attempts to hit above $260. The buyers are eyeing this level to before attacking higher levels towards $300.
XMR/USD 15’ chart
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