- Monero has pushed toward the 60.00 area on Monday as bullishness kicks in.
- There is a firm channel on the 4-hour chart that has been well respected.
XMR/USD 4-hour chart
Monero has been bullish inline with the rest of the crypto world on Monday. The price has recently just stalled ahead of the psychological 60.00 level. The market is making consecutive higher highs and higher lows. The red resistance line is from a higher timeframe and was used as a decent support and resistance zone in the past. The next level up is at 65.30 and again is a very important historical level.
On the downside, The blue 55 EMA could be used as support. That level is very close to the green zone which is a level from one of the previous wave highs. Naturally, it is also pretty close to the 50.00 level. The RSI indicator is in the overbought area and now looks to be turning lower. This could indicate the market will be in for a short term reversal before the trend continues.
|Today last price||58.1882|
|Today Daily Change||4.9119|
|Today Daily Change %||9.22|
|Today daily open||53.2763|
|Previous Daily High||54.2973|
|Previous Daily Low||52.7212|
|Previous Weekly High||54.3515|
|Previous Weekly Low||43.8817|
|Previous Monthly High||70.2655|
|Previous Monthly Low||26.0055|
|Daily Fibonacci 38.2%||53.3233|
|Daily Fibonacci 61.8%||53.6953|
|Daily Pivot Point S1||52.5659|
|Daily Pivot Point S2||51.8555|
|Daily Pivot Point S3||50.9898|
|Daily Pivot Point R1||54.1421|
|Daily Pivot Point R2||55.0078|
|Daily Pivot Point R3||55.7182|
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