Monero Price Analysis: XMR Token Price Soon To Rise Above $300 Mark

Fibo Quantum

  • XMR Token price action indicates a bullish run in the daily chart that will soon hit the $300 mark.
  • The 24-hour trading volume of the coin is $269,421,015 (+40%).
  • The pair XMR/ETH is trading at 0.08021 ETH with an intraday gain of +2.87%.

XMR Token price action creates a bullish-engulfing candlestick on the daily Technical Chart. This indicates that bullish sentiments have been rising, and the breakout has occurred above the resistance zone of $270.

Intraday volume growth exceeding the 20-day volume MA is a sign of rising buying pressure. The bullish alignment of daily EMAs has risen higher, which indicates a bull run.

XMR Token prices trade at $277.74. This is a +3.05% rise in 24 hours. It suggests that the price is on a bull run. The coin’s intraday trading volume grew by +40%

XMR Token’s Price In 4-Hour Chart

XMR token prices rise in a bullish manner as the price breaks above the rounding bottom pattern in the 4-hour chart. Thus, investors may see the price-action retest of the $270 mark as a chance to make a bullish entry with minimal risk.

The demand levels for bulls are $300 and $330, according to pivot levels. If bulls maintain the bullish trend at any support level, they may face resistance between $270 and $250.

Due to the positive slope and more remarkable power of the 4-hour technical charts, the EMAs have a stronger position and are more bullish. This can keep prices stable during bullish movements. The chart also shows a bullish trend due to the inclined volume.

The ADX Indicator projects increased trend momentum.

The RSI (BULLISH) indicator is at 60, indicating a bullish momentum in the token market. In addition, the RSI line has shown impressive growth in its value, projecting increasing strength in underlying bullishness.

The MACD indicator indicates a bullish sentiment as both the MACD and the signal line are above the neutral zone(0.00).

Conclusion: XMR token prices are in demand after each retracement on the 4-hour chart. If it holds above $275, the token price could soon climb higher and reach the $330 mark.

Support – $270 and $250

Resistance – $300 and $330

Wood Profits Banner>