Monero

Resistance

Coin

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Monero coin’s price decreased by 2.19% over the last week and is trading below 20 and 50-day EMA.</a> </li> 
 <li> <span>2</span> <a>The price of the XMR coin is trading at $144.700 and the 52-week range is between $116 – $118. </a> </li> 
</ul> 
<p>Monero, a cryptocurrency that focuses on privacy features, released a new update for its wallet app on September 19th, 2023, that added several features to improve the user experience and security.&nbsp;</p> 
<p>The new features in the app include new subaddresses auto-generation for every transaction a user makes, coin control for transactions, in-app live chat support, two-factor authentication, and additional themes to suit the user’s style. To use and look into the new features, Monero urged users to update their app.</p> 
<p>Monero (XMR) price showed a positive response to the news and surged by 3.5% on the same day of the announcement. However, the XMR price faced resistance from the exponential moving averages (EMAs) and was trading at $144.90 with an intraday loss of 0.11%.</p> 
<p>Monero crypto plummeted 1.14% in market value and 13.33% in trading volume in the last 24 hours, as per CoinMarketCap, a crypto data analysis website. Its market value is $2,651,925,967 and its trading volume is $35,767,279. There are 18,335,401 XMR in circulation.</p> 
<p>Monero (XMR) open interest is $25.40 Million. As per Coinglass, another crypto analysis website, it fell 1.95% in the previous session. The long versus short ratio for 24 hours is 1.0329.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-xmr-coin-price-technical-analysis-in-the-1-day-timeframe-strong"><strong>XMR Coin Price Technical Analysis in the 1-Day Timeframe</strong></h2> 
<p>XMR price was on a downtrend for a long time and followed a falling trendline on the charts. At the time of writing, XMR price is trading at $144.730 and consolidating in a range. Moreover, if XMR crosses the nearest resistance, it may go for testing the trendline again. On the upside, XMR price could face the nearest resistance levels at $150 and $160.</p> 
<p>On the other hand, XMR price could resume its downtrend and reach the nearest support levels at $135 and $125 if it fails to hold the current level.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="594" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-746-1024x594.png" alt="Monero: Which Outlook Technicals Are Favouring Bullish Or Bearish?" class="wp-image-170685" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-746-1024x594.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-746-300x174.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-746-768x445.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-746-750x435.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-746-1140x661.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-746.png 1461w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: XMR/USD.1D.BITFINEX by TradingView
   <br>
  </figcaption>
 </figure>
</div> 
<p>At the time of publishing, Monero (XMR) is trading below the 20 and 50-day EMAs (exponential moving averages) which are rejecting the <a href="https://www.thecoinrepublic.com/2023/09/18/monero-xmr-price-prediction-will-xmr-escape-range-above-150/" target="_blank" rel="noreferrer noopener">XMR price</a> trend.&nbsp;</p> 
<p>The MACD line at 0.013 and the signal line at 0.465 are below the zero line. Both lines are closing on each other and a bearish cross is anticipated next in the MACD oscillator.</p> 
<p>The current value of the RSI is 48.44 points and the 14-day SMA is below the median line at 49.73 points. This indicates bearish sentiments as the RSI took rejection on the 14 SMA line and headed for the oversold zone in the market for the XMR; highlighting bearishness.</p> 
<p>XMR performed well last month, increasing 1.31% but plummeting by 10.20% in the last six months. Monero (XMR) has a negative year-to-date return of 1.63% and a positive one-year return of 0.37%.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/09/20/will-giant-coin-usdc-launch-bring-hope-for-polkadot-crypto/" target="_blank" rel="noreferrer noopener">XMR price </a>chart highlights bearish sentiments and perspectives of investors and traders in the daily time frame. <a href="https://www.thecoinrepublic.com/2023/09/18/monero-xmr-price-prediction-will-xmr-escape-range-above-150/" target="_blank" rel="noreferrer noopener">Monero</a> price action highlights a bearish view at the time of publishing as XMR is below trendline resistance and consolidating. Moreover, the technical parameters of the Monero price suggest the continuation of the downtrend over the daily timeframe chart. Major trustworthy indicators MACD, RSI, and EMA provide negative signals regarding the XMR price.</p> 
<h5 class="wp-block-heading"><strong>Technical Levels:</strong></h5> 
<ul> 
 <li><strong>Support levels: </strong>$135 and $125</li> 
 <li><strong>Resistance levels: </strong>$150 and $160</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.</p>

Monero: Which Outlook Technicals Are Favouring Bullish Or Bearish?

Table of Contents

Thecoinrepublic.com

Outros artigos publicados em 23 de set. de 2023

Crypto Custodian Zodia to Offer Yield on Digital Assets - What Does This Mean for Institutional I...

Universities Shun Turnitin’s AI Text Detection Tool Over Accuracy and Privacy Concerns

Empowerment Through Web3 Crypto Coins (Top Selection for 2023)

How October 13 Might Change the Crypto Landscape Forever

How Is GenAI and Copyright Transforming Intellectual Property Standards?

Top US Crypto Exchange Coinbase Adds Trading Support for New Under-the-Radar Layer-1 Project

Join our free newsletter for daily crypto updates!