- Monero price analysis presents bullishness.
- XMR/USD trades near $219.
- Support currently sits at $211.
Monero’s (XMR) price analysis remains bullish as the altcoin sees increasing positive momentum. As bulls’ strength appears to challenge bears, the token’s price function converts an upside range. XMR saw the bearish mode fading as the token returned to value levels of $217, the former high.
If the bullish pressure persists, resistance can emerge at $220.7. Further resistances stand at $242, then the final high of the price range is around $253.
The hourly price chart highlights bullishness for Monero price, presuming the altcoin maintains its current upward trend. However, the bullish momentum strengthened as bulls pushed to a new peak at $220.7.
XMR/USD 24Hr Price Chart – Bullishness Dominate as Price Moves Higher
The one-day price analysis for XMR shows the altcoin’s price noted recoveries beyond expectations within the past three days. Though a 20-dau Simple Moving Average crossover emerged last week, the crypto market has presented lucrative performance recently, with XMR increasing by over 9% within the previous 24 hours.
The past 48 hours aw bulls stepping up, accomplishing today’s break past the resistance at $207. For now, the MA stands at $197. Moreover, the volatility remains high, as Bollinger bands average maintains at $212, offering bulls a chance. While publishing this content, the Relative Strength Index stood at 67, highlighting massive bullish strength for the trend.
Further Indications and Latest Developments
The four-hour chart shows Monero’s price has been surging over the past 20 hours. Today, the altcoin has no bearish signals and retains constant price fluctuation. Nevertheless, selling pressure might develop anytime as bulls appear tired following the continuous upward push. For now, the altcoin hovered at $220.7, but the Relative Strength Index displays bullishness in the market, staying at the 57-mark.
Today’s 4hr charts show the asset’s price on significant growth, and bullishness strengthens around the timeframe. The Relative Strength Index sat around 70, suggesting bullishness in the marketplace. The increasing bullish pressure overpowered the obstacle at $220.7. The altcoin will likely continue climbing in during the day, but the $230 resistance might slow the journey soon.