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XMR – ALTCOIN CHART ANALYSIS

 


Monero (XMR) has not moved much recently and is in a range between USD 95 – 130. At the moment we are trading at around USD 117 in a small downtrend, which we have to break through first.


Recently we found good support in the golden pocket (0.618 – 0.65 Fib. retracement level) and saw a bounce from here. Now we are fighting the downtrend to make another pump possible.

The RSI and other indicators are in a neutral zone, so we shouldn't expect any big moves here. The next resistances are at 120 and 126 USD.


We also have problems with this downtrend on the daily chart. The trading volume has recently fallen significantly, which is not conducive to breaking it.


The wick at around USD 96 was generated with a lot of volume at the time, but at the same time it is a strong support zone that dates back to 2020 and 2021. In both years we had resistance at this level, which has now switched to support.


It will be important for XMR that we either leave the area around USD 136 as quickly as possible, then it can quickly go to regions around USD 180, or we get the pullback in the area around USD 96, which is more unlikely.

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