Monero Price Prediction: XMR rejected at higher levels, 200-SMA support holds the key


  • XMR/USD hit the highest levels in nine days at $165.66.
  • The coin broke the rising channel to the upside on the 4H chart. 
  • RSI recedes from the overbought territory but stays bullish.

Monero (XMR/USD) witnessed a quick retracement from nine-day highs of $165.66, holding a major part of the intraday gains so far this Sunday.

The digital asset saw a fresh spurt of buying after it recaptured the critical 100 and 200-simple moving averages (SMA) on the four-hour chart.

XMR/USD: Four-hour chart

The bulls extended control, prompting the price to dive out of the rising channel formation. A firm break above the rising trendline hurdle at $157.20, validated the pattern, opening doors towards the measured target at around $182.

Over the last hour, the sellers seem to have fought back, as the price drops back below the pattern resistance now support at $157.20.

If the pullback picks up pace, a test of the key $150 support cannot be ruled out. That level is the meeting point of the horizontal 100 and 200-SMAs.

Further south, the upward-sloping 21-SMA at $146.53 could come to the XMR bulls’ rescue.

The latest leg down is backed by the U-turn seen in the Relative Strength Index (RSI) from the overbought region. The indicator still holds in the bullish region despite the reversal, suggesting that the upside bias remains intact.

XMR/USD: Additional levels

XMR/USD

Overview
Today last price 156.3220
Today Daily Change 8.6115
Today Daily Change % 5.83
Today daily open 147.7101
 
Trends
Daily SMA20 150.0714
Daily SMA50 142.197
Daily SMA100 131.1162
Daily SMA200 106.9282
 
Levels
Previous Daily High 148.9903
Previous Daily Low 139.4081
Previous Weekly High 153.2601
Previous Weekly Low 128.105
Previous Monthly High 170.5264
Previous Monthly Low 119.9816
Daily Fibonacci 38.2% 145.3299
Daily Fibonacci 61.8% 143.0685
Daily Pivot Point S1 141.7487
Daily Pivot Point S2 135.7873
Daily Pivot Point S3 132.1666
Daily Pivot Point R1 151.3309
Daily Pivot Point R2 154.9517
Daily Pivot Point R3 160.9131

 

 

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