- 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
|Today last price||73.3107|
|Today Daily Change||-0.6879|
|Today Daily Change %||-0.93|
|Today daily open||73.9986|
|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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