- XMR/USD has been trending in a narrow range between $56 and $52.65.
- The Elliott Oscillator has had a red session following seven straight green sessions.
XMR/USD daily chart
Following a slightly bullish Wednesday, the XMR/USD bears have taken control of the market in the early hours of Thursday. Monero fell from $53.15 to $52.65. XMR/USD has been trending in a narrow range between $56 and $52.65. The 20-day Simple Moving Average (SMA 20) acts as the immediate market resistance, while the 20-day Bollinger Band has narrowed, indicating decreasing price volatility. The Elliott Oscillator has had a red session following seven straight green sessions. The Moving Average Convergence/Divergence (MACD) indicates decreasing bullish momentum.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.