Monero technical analysis: Trapped in range, vulnerable while below 83.50


  • Sellers retain control, as the recovery lacks momentum.
  • Coin awaits catalysts for fresh near-term trading impetus.

Monero (XMR), the 14th largest cryptocurrency with the current market capitalization of $1.26 billion and an average trading volume of $94 million, is the second-biggest loser among the top 20 widely traded cryptocurrencies. The coin has lost almost 4% over the last 24 hours and remains stuck in a narrow range, with the bearish momentum still intact. At the time of writing, XMR/USD trades near 73.30 region, having found support once again ahead of 72.50.

XMR/USD 1-hour chart

 

  • The coin consolidates below 23% Fibonacci Retracement (Fib) of Friday’s fall near 73.90.
  • Hourly Relative Strength Index (RSI) turns south from the overbought territory, set to test the 50 level.
  • The bearish trend could resume on a sustained break below the key 72.50 support.

XMR/USD Daily chart

 

  • Trapped in a narrow range since late-August, awaits fresh catalyst.
  • The spot trades below all the key Daily Simple Moving Averages (DMA).
  • Only a sustained break above the horizontal resistance of 83.50 can reverse the near-term bearish outlook.
  • Daily Relative Strength Index (RSI) suggests that there is a scope for further downside.

XMR/USD Levels to watch

XMR/USD

Overview
Today last price 73.3107
Today Daily Change -0.6879
Today Daily Change % -0.93
Today daily open 73.9986
 
Trends
Daily SMA20 75.3798
Daily SMA50 80.5519
Daily SMA100 86.294
Daily SMA200 78.0701
 
Levels
Previous Daily High 78.1741
Previous Daily Low 72.5253
Previous Weekly High 82.3322
Previous Weekly Low 71.554
Previous Monthly High 97.8571
Previous Monthly Low 65.9364
Daily Fibonacci 38.2% 74.6831
Daily Fibonacci 61.8% 76.0162
Daily Pivot Point S1 71.6246
Daily Pivot Point S2 69.2505
Daily Pivot Point S3 65.9758
Daily Pivot Point R1 77.2733
Daily Pivot Point R2 80.5481
Daily Pivot Point R3 82.9221

 

 

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