- XMR/USD fell from $98.15 to $94.85 in the early hours of Saturday.
- The overall market sentiment looks bearish.
XMR/USD daily chart
XMR/USD fell from $98.15 to $94.85 in the early hours of Saturday. This Friday, Monero bulls took charge and got the price up from $89.75 to $98.25. They were aiming to get back into the $100-zone, but they eventually lost steam. The 20-day simple moving average (SMA 20) curve acts as market resistance, while the SMA 50 curve acts as support. The daily price chart is comfortably trending above the SMA 200 curve. The Elliot oscillator shows three straight bearish sessions.
XMR/USD 4-hour chart
The 4-hour price chart had a bullish breakout from the green Ichimoku cloud before it found resistance on the $98.25 line and fell back in. The latest price session went down from $98.25 to $95. The signal line has crossed over the moving average convergence/divergence (MACD) line showing increasing bullish momentum.
XMR/USD hourly chart
The four latest sessions in the hourly price chart are trending in a downward channel formation. The price has found resistance on the $98-level and then fell sharply to $95. The latest session finds resistance on the SMA 200 curve and support on the SMA 20 curve. The 20-day Bollinger jaw has narrowed, showing decreasing market volatility. The relative strength index (RSI) indicator flirted a bit with the overbought zone and the dipped down into the neutral territory.
Key Levels
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Coinbase lists WIF perpetual futures contract as it unveils plans for Aevo, Ethena, and Etherfi
Dogwifhat perpetual futures began trading on Coinbase International Exchange and Coinbase Advanced on Thursday. However, the futures contract failed to trigger a rally for the popular meme coin.
Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high
Stripe announced on Thursday that it would add support for USDC stablecoin, as the stablecoin market exploded in March, according to reports by Cryptocompare.
Ethereum cancels rally expectations as Consensys sues SEC over ETH security status
Ethereum (ETH) appears to have returned to its consolidating move on Thursday, canceling rally expectations. This comes after Consensys filed a lawsuit against the Securities & Exchange Commission (SEC) and insider sources informing Reuters of the unlikelihood of a spot ETH ETF approval in May.
FBI cautions against non-KYC Bitcoin and crypto money transmitting services as SEC goes after MetaMask
US Federal Bureau of Investigations (FBI) has issued a caution to Bitcoiners and cryptocurrency market enthusiasts, coming on the same day as when the US Securities and Exchange Commission (SEC) is on the receiving end of a lawsuit, with a new player adding to the list of parties calling for the regulator to restrain its hand.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?