Monero Price Analysis: XMR/USD recovers Thursday’s losses and climbs towards $70-level
|- XMR/USD bulls recovered Thursday’s losses this Friday.
- The market broke past the SMA 20 curve.
Monero, one of the premier privacy coins in the world, experienced a bullish Friday, where it went up from $66 to $69.35, charting a 5.08% increase. During the day, the bulls took XMR/USD up to $68 before the bears corrected the price to $67. Following that, the bulls took back full control shot the price back up to $69.35. The bulls will need to garner enough momentum to breach the $70-level. In the process, they recovered this Thursday’s losses wherein XMR/USD went down from $68.65 to $66.
XMR/USD 4-Hour Chart
XMR/USD Daily Chart
- The XMR/USD market broke past the resistance offered by the 20-day simple moving average (SMA 20) curve.
- The market is trending above the SMA 200 and SMA 50 curves.
- The relative strength index (RSI) indicator is trending at 58.75.
- The signal line diverged away from the MACD line showing bullish momentum.
- The Elliot wave oscillator shows a bullish session following two consecutive bearish sessions.
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