Monero technical analysis: XMR/USD four-hour price charts seven straight bullish sessions


  • 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

fxsoriginal

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

fxsoriginal

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

fxsoriginal

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

XMR/USD

Overview
Today last price 56.749
Today Daily Change 1.8311
Today Daily Change % 3.33
Today daily open 54.9179
 
Trends
Daily SMA20 55.8371
Daily SMA50 66.2129
Daily SMA100 76.0206
Daily SMA200 78.813
 
Levels
Previous Daily High 55.2191
Previous Daily Low 51.8287
Previous Weekly High 58.0344
Previous Weekly Low 54.042
Previous Monthly High 82.3322
Previous Monthly Low 53.475
Daily Fibonacci 38.2% 53.9239
Daily Fibonacci 61.8% 53.1238
Daily Pivot Point S1 52.758
Daily Pivot Point S2 50.5982
Daily Pivot Point S3 49.3676
Daily Pivot Point R1 56.1485
Daily Pivot Point R2 57.379
Daily Pivot Point R3 59.5389

 


 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Analysis: BTC bulls may hit a brick wall on approach to $9,800

Bitcoin (BTC) extended the recovery to trade at $9,750 at the time of writing. The first digital asset bottomed at $9,300 on February 19 amid massive sell-off and managed to regain some ground since that time. 

More Bitcoin News

Ripple Price Weekly Forecast: XRP/USD road to $0.35 mapped

As the week grinds toa halt, cryptocurrencies are rolling in a positive direction. The positive resonation comes after a couple of days that saw bulls paralyzed in the cryptocurrency market.

More Ripple News

Cardano launched hardfork OBFT; ADA/USD extends the recovery

Cardano (ADA), now the 11th largest digital asset with the current market value of $1.5 billion, has gained 2.7% in recent 24 hours to trade at $0.0590 at the time of writing.

More Cardano News

BCH/USD sprints to $380 amid development tax disagreements

Bitcoin Cash explored the region at $350 as I discussed in the previous article. However, the bulls quickly entered the market ready to buy low and push the price upwards. BCH/USD is already in the green ...

More Bitcoin Cash News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC bulls plot the revenge

Bitcoin's market capitalization settled at $176 billion, which is 62.8% of the total digital assets market.

Read the weekly forecast

BTC

ETH

XRP