- Monero is trading just over 1% higher as most other cryptocurrencies remain negative.
- The price has rejected a key Gann level which matched the 60.00 psychological zone.
XMR/USD 4-hour chart
Monero is having another positive session despite stalling at the psychological 60.00 level. The chart is still a bullish one with the pair continuing to make higher lows and higher highs. The 55 and 200 period moving averages have also recently had a bullish cross which is also a positive signal.
Looking closer at the technicals now, you can see the fan lines hit the price exactly at the same point the price rejected the 60.00 resistance zone. This doesn't mean the upward trend is over as the lines are still sloping in an upward trajectory. But it could mean if there is a pullback the price could target the next fan line down or just rest on the top side of the channel. The point of these fan lines is to wait for a break. If the one underneath the price breaks the market could retrace up to 50% of the move. Well, that is the theory anyway. They are also a great support and resistance tool so keep an eye on some of the levels.
|Today last price||58.7473|
|Today Daily Change||0.8323|
|Today Daily Change %||1.44|
|Today daily open||57.915|
|Previous Daily High||58.2209|
|Previous Daily Low||55.6033|
|Previous Weekly High||54.3515|
|Previous Weekly Low||43.8817|
|Previous Monthly High||70.2655|
|Previous Monthly Low||26.0055|
|Daily Fibonacci 38.2%||57.221|
|Daily Fibonacci 61.8%||56.6032|
|Daily Pivot Point S1||56.272|
|Daily Pivot Point S2||54.6289|
|Daily Pivot Point S3||53.6544|
|Daily Pivot Point R1||58.8895|
|Daily Pivot Point R2||59.8639|
|Daily Pivot Point R3||61.507|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.