• Monero is nearly flat for the session after trading lower for the majority of Wednesday.
  • The top of the current consolidation is under threat as the price moves higher.

XMR/USD 1-hour chart

Monero has caught a bid late in the US session on Wednesday after trading lower for most of the day. The price has just recently moved through the moving averages (55 & 200) which can be considered a bullish sign. If the black resistance line at 48.20 gets taken out then the green wave high of 51.68 could be tested. There is the small matter of the 50 psychological level in the way.

Looking closer at the technicals now, the RSI indicator has just moved through the 50 mid-line too. and it seems the resistance is holding just for now. In general, on the higher timeframes, the price is still in a strong downtrend. This move could still just be a deep retracement. It seems the momentum has dropped off slightly for now but a move below 44.00 is one to keep an eye on if you are a bear.

Monero price analysis

Additional levels

XMR/USD

Overview
Today last price 47.7778
Today Daily Change -0.2739
Today Daily Change % -0.57
Today daily open 48.0517
 
Trends
Daily SMA20 41.7409
Daily SMA50 61.4668
Daily SMA100 61.8178
Daily SMA200 60.0451
 
Levels
Previous Daily High 48.376
Previous Daily Low 46.4893
Previous Weekly High 51.5843
Previous Weekly Low 37.6819
Previous Monthly High 70.2655
Previous Monthly Low 26.0055
Daily Fibonacci 38.2% 47.6553
Daily Fibonacci 61.8% 47.21
Daily Pivot Point S1 46.902
Daily Pivot Point S2 45.7523
Daily Pivot Point S3 45.0153
Daily Pivot Point R1 48.7887
Daily Pivot Point R2 49.5257
Daily Pivot Point R3 50.6754

 

 

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