Monero Price Analysis: XMR/USD bulls take back control as price stays above SMA 20
- XMR/USD fell from $47.24 to $47 on Wednesday before the bulls took back control this Thursday.
- The Elliott Oscillator has had 10 consecutive green sessions.
Key Levels
- Current Price :$48.16
- Open: $47.14
- High: $48.61
- Low: $47.14
- R3: $51.25
- R2: $49.67
- R1: $48.32
- PP: $46.75
- S1: $45.40
- S2: $43.82
- S3: $42.47
XMR/USD daily chart
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XMR/USD bulls regained control this Thursday as the price went up from $47.14 to $48.175. In the process, it managed to stay above the SMA 20 curve. To continue the upward momentum, the bulls will need to break above the $50 resistance level and the channel formation. The 20-day Bollinger jaw has constricted, indicating decreasing price volatility. The Elliott Oscillator has had 10 consecutive green sessions, while the MACD indicates increasing bullish momentum. Finally, the RSI is hovering around the neutral territory.
Author
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.
