Monero Price Analysis: XMR Coin Price Is Ready To Regain Its Level Of $320

Fibo Quantum

  • Monero coin price is observing a consolidated momentum after a dramatic fall down from $320 to $220. It can soon attain its high of $320 in the future
  • XMR coin is currently looking to break above the 50MA resistance. Meanwhile, XMR/BTC pair is up by more than 1.11% in the past 24 hours

XMR coin price is currently seeing a weak upside momentum and can soon observe a breakout for a new high. Monero price is near the value of $265 with a gain of more than 2% in the intraday session. XMR coin price upside trend may face hostility near the value of $320.  The bounceback area in the Monero can be observed near $200. Monero price is currently trading in between the 50 and 100 MA, with a negative crossover in the price.  The 50MA  line is near the value of $251, making it a temporary support area for the coin price. The breakout above the 50MA can act as a strong catalyst for the price to reach a new high. XMR/BTC is also looking to give a major breakout for the future. One can invest in Monero as per their needs and price action scenario.

Monero has to reach more than 68% from its current level to break it’s all time high. The market dominance of XMR along with its volume has observed a significant rise in the past few days. Volume to market cap ratio for the Monero suggests a strong upside trend for the future.

XMR Coin Price May Soon Revert Back To A New High 

Source: Trading view

XMR coin price is currently observing a consolidated trend on the weekly chart.  The coin price is currently looking to give a positive breakout for a new high in the price . The daily chart of the Monero suggests a strong upside momentum in the price for the future. If the price of the Monero jumps above $300 then one can see a new high in the future. One can invest in XMR as per their risk adversity and price action scenario.

CONCLUSION

XMR coin price is currently looking to break out for a new high and can soon reach a new high .. XMR/BTC pair can also observe a new high in the upcoming days. One should do their due diligence before investing in XMR

TECHNICAL LEVELS

Major Resistance:$350

Major Support:$200

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