Monero Price Analysis: XMR/USD rises by 15% as bulls stage comeback
- XMR/USD fell from $41.295 to $38.32 this Monday.
- The RSI indicator has gone up from 34.10 to 42.38 following Tuesday’s bullish price action.
Key Levels
- Current Price: $44.107
- High: $44.4732
- Low: $37.6818
- R3: $53.2817
- R2: $48.8775
- R1: $46.4904
- PP: $42.0861
- S1: $39.6990
- S2: $35.2948
- S3: $32.9077
XMR/USD daily chart
XMR/USD bulls staged a momentous comeback as the price spiked from $38.32 to $44.10. In the process, they managed to completely negate this Monday's price action, wherein XMR/USD fell from $41.295 to $38.32. The Elliott Oscillator and MACD indicator both show increasing buyer sentiment. The RSI indicator has gone up from 34.10 to 42.38 following Tuesday’s bullish price action. ‘
XMR/USD daily price is currently trending in an upward channel formation. If the buyers want to continue upward momentum, they’ll need to break past resistance at the SMA 20 curve.
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.
