Monero technical analysis: XMR/USD fails to cross $100 after showing promise


  • 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

XMR/USD

Overview
Today last price 95.3992
Today Daily Change -2.7173
Today Daily Change % -2.77
Today daily open 98.1165
 
Trends
Daily SMA20 100.4259
Daily SMA50 93.4346
Daily SMA100 79.945
Daily SMA200 64.3026
Levels
Previous Daily High 98.3194
Previous Daily Low 86.1729
Previous Weekly High 108.6298
Previous Weekly Low 86.1729
Previous Monthly High 120.8393
Previous Monthly Low 81.2066
Daily Fibonacci 38.2% 93.6794
Daily Fibonacci 61.8% 90.8128
Daily Pivot Point S1 90.0865
Daily Pivot Point S2 82.0564
Daily Pivot Point S3 77.94
Daily Pivot Point R1 102.233
Daily Pivot Point R2 106.3494
Daily Pivot Point R3 114.3795

 

 

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