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Monero Price Analysis: XMR/USD consolidates above the $50-level

  • XMR/USD went up from $45.50 to $50.85 this Friday.
  • The MACD indicator shows increasing bullish momentum.
Monero Price Analysis: XMR/USD consolidates above the $50-level
Rajarshi MitraRajarshi MitraIndependent Analyst

XMR/USD daily chart

XMR/USD daily chart

XMR/USD jumped up from $45.50 to $50.85 this Friday. So far, the price has dropped further to $50.15 this Saturday. The price is currently sandwiched between the 50-day Simple Moving Average (SMA 50) and the lower Bollinger Band. This Friday’s session took the price above the SMA 20 curve. The Moving Average Convergence/Divergence (MACD) indicates increasing bullish momentum, while the Elliott Oscillator has had eight straight green sessions. The Relative Strength Index (RSI) has fallen from 57.38 to 55, which hints at price consolidation.
 

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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