• Monero price faces rejection at the $181.22 daily resistance level.
  • The Relative Strength Index (RSI) and Awesome Oscillator (AO) signal XMR bearish divergence.
  • A daily candlestick close above $181.22 would invalidate the bearish thesis.


Monero (XMR) price has encountered resistance at a critical level. The technical outlook suggests a potential short-term correction as momentum indicators signal a bearish divergence.

Monero price set to retest lows

The Monero price failed to close above the $181.22 daily resistance level on Thursday, leading to a short-term correction of roughly 5% from its daily high of $181.23 to a low of $171.40.

This price drop also broke below the ascending trendline, which had previously acted as support, drawn from joining three swing low points from June 8 to 13, as shown in the four-hour chart.


If the $181.22 daily level and the ascending trendline hold as resistance, then Monero's price could decline 3% from its trendline break roughly at $173.47 to its recent low of $167.14 on June 11.


If the bears are aggressive and the overall crypto market outlook is negative, then XMR could break below $167.14, and extend the decline by 9% to retest its low of $152.23 on June 8.


The RSI and the AO indicators support the bearish thesis. The higher close formed on June 13 is not followed by a corresponding high in the RSI for the same period. This development is termed a bearish divergence and often leads to the reversal of the trend or a short-term price drop.

XMR/USDT 4-hour chart

XMR/USDT 4-hour chart

However, if the XMR daily candlestick closes above $181.22, it will produce a higher high in the daily time frame. Such a development would give rise to a bullish market structure. This change in market structure would invalidate the bearish thesis and catalyze a 5% increase in the XMR price to revisit its daily high of $190.17 from June 9.

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram

Recommended content

Recommended Content

Editors’ Picks

Three reasons why Chainlink could rally

Three reasons why Chainlink could rally

Chainlink has noted accumulation by large wallet investors for the past two weeks. Nearly $110 million in LINK has been withdrawn from exchanges in this time period. LINK sustained above $13 on Sunday, extending gains by nearly 1%. 

More Chainlink News

Ripple holds on to double-digit gains, highest in top 20 cryptocurrencies

Ripple holds on to double-digit gains, highest in top 20 cryptocurrencies

Ripple rallied over 19% in the past seven days per CoinGecko data. The altcoin broke past resistance at $0.50 on the one-year anniversary of Judge Analisa Torres’ XRP ruling. 

More Ripple News

Bitcoin breaks $60,000 as market anticipates re-election of pro-crypto former President Trump

Bitcoin breaks $60,000 as market anticipates re-election of pro-crypto former President Trump

Bitcoin extended gains post the shooting at the rally of US Presidential candidate Donald Trump. The former President is a pro-crypto candidate, and a report by Fortune shows that Trump’s chances of winning the race increased after the Saturday events.

More Bitcoin News

Ethereum ETF launch could push Ether to new all-time high, on one condition

Ethereum ETF launch could push Ether to new all-time high, on one condition

Ethereum (ETH) traders are watching two key events closely: the anticipated approval of the Spot Ether ETF and the activities of whales, the large wallet investors holding ETH. An analyst has predicted that the odds of Spot Ether ETF is 72.7% this week. 

More Ethereum News

Bitcoin: Investors wonder if BTC troubles are behind

Bitcoin: Investors wonder if BTC troubles are behind

Bitcoin (BTC) stabilized around the $57,000 mark this week, while the German Government persists in transferring Bitcoin to exchanges. Concurrently, US spot Bitcoin ETFs have recorded inflows. On-chain analytics indicate that whales are accumulating BTC during dips, potentially foreshadowing an imminent rally in the days ahead.


Read full analysis