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Monero Price Analysis: XMR/USD struggles to stay above the $65-level

  • XMR/USD has found support at the green Ichimoku cloud.
  • The RSI indicator is looking to drop below the overbought zone in the daily chart.
Monero Price Analysis: XMR/USD struggles to stay above the $65-level
Rajarshi MitraRajarshi MitraIndependent Analyst

XMR/USD daily chart

XMR/USD daily chart

XMR/USD bulls have rallied to keep the price above the $65-zone. Currently, XMR/USD is priced at $65.65 and hovering above the green Ichimoku cloud in the daily chart. The 200-day Simple Moving Average (SMA 200) curve acts as immediate market resistance. The Moving Average Convergence/Divergence (MACD) and Elliott Oscillator both show sustained bullish sentiment. The Relative Strength Index (RSI) indicator was going to fall below the overbought zone when it managed to gain some momentum and stay right at the edge.

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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