Rajarshi Mitra
Independent Analyst
- The four-hour price has also broken above the green Ichimoku cloud.
- The hourly chart has peeked above the 20-day Bollinger band, indicating short-term bearish correction.
XMR/USD daily chart
-637068809882013335.png)
Contrary to the rest of the crypto market, XMR/USD has managed to chart two straight bullish sessions. The price of Monero has gone up from $52 to $56.80 during this period. The latest session has broken above the resistance provided by the 20-day Simple Moving Average (SMA 20) curve. The Relative Strength Index (RSI) indicator has jumped up from the oversold zone and is trending around 46.875.
XMR/USD four-hour chart
-637068809622475520.png)
The four-hour chart has had seven bullish sessions in a row, breaking above the green Ichimoku cloud, SMA 50 and SMA 20. The price is negotiating with the $57 resistance level right now. The Moving Average Convergence/Divergence (MACD) indicator shows seven straight bullish sessions of increasing intensity.
XMR/USD hourly chart
-637068809369188334.png)
The hourly chart is comfortably floating above the SMA 20, SMA 50 and SMA 200 curves. The price has peeked above the 20-day Bollinger Band, indicating that the price is currently overpriced and may face bearish correction soon. The Elliott Oscillator shows 12 straight bullish sessions.
Key Levels
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