XMR/USD Faces the Upside; Sustains the Price Rise – Cryptovibes.com – Daily Cryptocurrency and FX News
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XMR Price Analysis – December 30
Monero keeps the intraday gains as bulls retreat. The coin is gaining about 4.98% within 24 hours.
XMR/USD Market
Key Levels:
Resistance levels: $250, $260, $270
Support levels: $200, $290, $280
XMR/USD is trading in green within the channel. The cryptocurrency market corrects itself after the gains made a couple of days ago during Asian hours. Like other few altcoins, Monero made a slight increase in the opening price from $214 to a peak at $231 before reversing to $225. More so, Monero (XMR) is one of the few digital currencies that keep intraday gains.
Monero Price Analysis: Will XMR Touch $250 Resistance Level or Reverse?
At the time of writing, the Monero price is hovering at $225 after gaining about 4.98%. Looking north, a correction above the upper boundary of the channel will pave the way for gains to the resistance levels of $250, $260, and $270.
On the downside, immediate support is below the 9-day moving average. It is important to note that $210 is a key level of support, while the main support levels are $200, $190, and $180, but the technical indicator Relative Strength Index (14) is likely to cross above 60-level, indicating an upward trend.
XMR/BTC Market: Price Heads to the Upside
Comparing with BTC, the market price remained and trading above the 9-day and 21-day moving averages, currently trading at 4721 SAT and expecting a break out above the upper boundary of the channel. Looking at the chart, if the coin can gain more upside, bulls may continue to dominate the market.
However, if the market drops, the next key supports may likely be at 4300 SAT and below. On the bullish side, an additional rise could push the market to the resistance levels of 5000 SAT and above. According to the technical indicator Relative Strength Index (14), the market may face an upward trend as the signal line moves into the overbought region, which could bring more buyers into the market soon.
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