Monero

The post <a href="https://coinpedia.org/price-analysis/monero-price-hints-bearish-reversal-xmr-price-to-record-10-correction/">Monero Price Hints Bearish Reversal! XMR Price to Record 10% Correction?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
Despite the crypto industry trading under a bearish influence, top altcoins trade positively by displaying an upward trend in their respective charts. Further, the XMR price has added over 4.5% within the past day but continues its struggle to break out, indicating a mixed sentiment in the market. 
The <a href="https://coinpedia.org/price-prediction/xmr-monero-price-prediction/">Monero price</a> traded in a closed range between $144.3 and $153.6 for a while, following which the market gained momentum, and bulls gained just enough power to break out. After this, the XMR coin price traded between $153.6 and $162.5 for the next nineteen days during this time, the price recorded significant fluctuations in the chart. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/cneJZuCO5EFoczlXE-Wr6J2fMi_jqg1ePoFSzNSewjYToG8ZrTu1StzU6BcoytOQO8xCOP_xKNeplcAhMqqwcTMMctqOpdM8P9pS1Yr1jHRgQbwoF2sKDtpmrUYbTYlhKImRQly6eqiB6LyFcidYqgE" alt="Monero Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: XMR/USDT
 </figcaption>
</figure> 
As the market volatility grew, the bulls gained momentum and broke out of the range. However, the rally was short-lived as the price faced rejection at $172.5, following which the price traded sideways for about a week. After the news of the Binance exchange delisting the Monero token from its platform, the XMR price recorded a loss of approximately 39% in valuation. 
The XMR bulls held the price strong above the crucial support level of $101.9, resulting in a bounce back in the chart. The Monero price recorded a jump of approximately 30.5% in value, after which the price faced rejection at the resistance level of $132.9. 
Since then, the Monero price has been trading in a consolidated range between $117.3 and $132.9. The XMR coin is on a path to test its resistance level, but the 50-day EMA acts as a resistance to the price, highlighting an uncertainty in the future price action of the coin. 
<h2 class="wp-block-heading" id="h-will-monero-price-increase">Will Monero Price Increase?</h2> 
The Relative Strength Index (RSI) displays a bullish curve above the neutral point, highlighting a strong bullpower in the crypto market. Further, the averages show a constant rise, suggesting the price will continue gaining value in the coming time. 
If the market pushes the price above the upper level of $132.9, the bulls will regain momentum and test its upper resistance level of $144.3. Maintaining the price at that level will set the stage for the XMR price to attempt to test its resistance level of $153.6 in the upcoming weeks. 
Conversely, if the bears overpowered the bulls, the Monero price would lose momentum and fall to test its support level of $117.3. Moreover, if the bears continue to dominate the market, it will plunge and prepare to test its lower support level of $101.9 this month.

Monero Price Hints Bearish Reversal! XMR Price to Record 10% Correction?

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