• Monero trades 6% higher as the whole crypto space catches a bid.
  • The pair also broke the psychological 60.00 level.

XMR/USD 4-hour chart

Monero has pushed 6% higher and this ensured the uptrend continued. The key event of the day was the break of the psychological 60.00 level. If this rally is sustained then the next resistance level on the upside comes at 65.00. Beyond that, the blue horizontal line at 70.00 is the next level on the upside. 

Looking at the indicators, the price is now trading comfortably above the 55 and 200 moving averages. The relative strength index is now in the overbought zone which could indicate a short term pullback is on the cards. Unfortunately, the volume has not risen to records seen in the past as this would be a great confirmation of the trend. That said, the trend is still moving higher and making higher highs and higher lows so long may it continue and higher levels seem to be on the horizon.

Monero takes out 60.00

Additional levels

XMR/USD

Overview
Today last price 60.3674
Today Daily Change 3.3646
Today Daily Change % 5.90
Today daily open 57.0028
 
Trends
Daily SMA20 55.4723
Daily SMA50 50.6791
Daily SMA100 62.6249
Daily SMA200 58.7246
 
Levels
Previous Daily High 57.4041
Previous Daily Low 54.8053
Previous Weekly High 57.4679
Previous Weekly Low 51.0848
Previous Monthly High 70.2655
Previous Monthly Low 26.0055
Daily Fibonacci 38.2% 56.4114
Daily Fibonacci 61.8% 55.7981
Daily Pivot Point S1 55.4041
Daily Pivot Point S2 53.8053
Daily Pivot Point S3 52.8053
Daily Pivot Point R1 58.0028
Daily Pivot Point R2 59.0028
Daily Pivot Point R3 60.6015

 

 

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Why LUNA traders do not have to be in the market all the time

Why LUNA traders do not have to be in the market all the time

Terra (LUNA) price action has slipped below a critical level outlined a few days ago. As price action moves start to get smaller, a big move is set to happen, but it is very cloudy to see where that move will be going.

More Terra News

SEC vs. Ripple case, two key decisions awaited by XRP holders

SEC vs. Ripple case, two key decisions awaited by XRP holders

XRP holders are awaiting key decisions in the SEC vs. Ripple case. Experts believe judge Sarah Netburn could rule on the two key decisions in the lawsuit against payment giant Ripple. 

More Ripple News

MATIC price explodes as Polygon achieves Carbon neutrality

MATIC price explodes as Polygon achieves Carbon neutrality

MATIC’s purchase of carbon credits through KlimaDAO partnership represented 104,794 tonnes of greenhouse gasses, equivalent to the Ethereum scaling solution’s debt since 2019. Carbon neutrality has fueled a bullish sentiment among traders and 

More Polygon News

Things have suddenly changed for the Shiba Inu price, is the bottom in?

Things have suddenly changed for the Shiba Inu price, is the bottom in?

Shiba Inu price may have bottomed but this can only be confirmed if the current rally persists. Traders should be aware of several factors. Shiba Inu price has suddenly changed as the bulls have printed a significantly large bullish engulfing candle on the daily chart. 

More Shiba Inu news

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin price has gone through turbulent times over the last few months. From reaching a new all-time high to hitting yearly lows and revisiting levels since 2020, the crypto markets have been extremely volatile.

Read full analysis

BTC

ETH

XRP