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XMR/USD Remains in the Negative Trend – Cryptovibes.com – Daily Cryptocurrency and FX News

Monero Price Analysis


Monero Price Analysis – October 27

The Monero price slumps to touch the daily low at $248 as the struggles to trade above $286 resistance.

XMR/USD Market

Key Levels:

Resistance levels: $305, $325, $345

Support levels: $225, $205, $185

XMRUSD – Daily Chart

XMR/USD is experiencing a fall beneath the long-term support at $250, which is now, subject to the price actions below the 9-day and 21-day moving averages over the past few days of trading. Meanwhile, at the time of writing this analysis, the Monero (XRP) is losing momentum to the lower side of the channel along with a potential price surge.

Monero Price Analysis: Monero Price May Struggles More

According to the daily chart, the Monero price is seen hovering below the 9-day and 21-day moving averages but if the coin decides to move lower and face the lower boundary of the channel, it could hit the nearest supports at $225, $205, and $185. Meanwhile, on the upside, the bulls need to keep the price above the 9-day and 21-day moving averages.

However, if the coin decides to stay above the moving averages, this may cause the coin to cross above the upper boundary of the channel and find the resistance levels of $305, $325, and $345. On the contrary, the technical indicator Relative Strength Index (14) is seen moving to cross below 50-level, which could increase the bearish movement in the market.

XMR/BTC Market: Price May Continue to Range-Bound

When compares with Bitcoin, the Monero price is hovering below the 21-day moving average and within the channel where the coin is likely to cross below the 9-day moving average. Meanwhile, should the price stays below the 9-day and 21-day moving averages, the coin may likely touch the nearest support level of 4000 SAT and below.

XMRBTC – Daily Chart

However, if the bulls could push the market price above the upper boundary of the channel, Monero (XMR) may reach the resistance level of 5000 SAT and above. Meanwhile, as the 9-day MA remains below the 21-day MA, the coin may remain at the downside and the technical indicator Relative Strength Index (14) is seen moving below 50-level to confirm that the market may remain at the downside.



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