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Monero Price Analysis: XMR has broken 60.00 and could move higher

  • 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 price60.3674
Today Daily Change3.3646
Today Daily Change %5.90
Today daily open57.0028
 
Trends
Daily SMA2055.4723
Daily SMA5050.6791
Daily SMA10062.6249
Daily SMA20058.7246
 
Levels
Previous Daily High57.4041
Previous Daily Low54.8053
Previous Weekly High57.4679
Previous Weekly Low51.0848
Previous Monthly High70.2655
Previous Monthly Low26.0055
Daily Fibonacci 38.2%56.4114
Daily Fibonacci 61.8%55.7981
Daily Pivot Point S155.4041
Daily Pivot Point S253.8053
Daily Pivot Point S352.8053
Daily Pivot Point R158.0028
Daily Pivot Point R259.0028
Daily Pivot Point R360.6015

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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