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Monero Price Analysis: XMR/USD bulls march towards the $100-mark

  • XMR/USD is trending in levels not seen since August 2019.
  • The SMA 50 is about to cross over the SMA 200.
Monero Price Analysis: XMR/USD bulls march towards the $100-mark
Rajarshi MitraRajarshi MitraIndependent Analyst

XMR/USD daily chart

XMR/USD daily chart

XMR/USD has jumped from $89.75 to $93.25 in the early hours of Wednesday. The last time Monero was priced around this level was back in August 2019. XMR/USD is trending in an upward channel formation and above the SMA 20, SMA 50 and SMA 200 curves. The 20-day Bollinger jaw has widened to accommodate for the rise in price. The RSI indicator is trending inside the overbought zone, while both the MACD and Elliott Oscillator show increasing bullish sentiment. 
 

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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