XMR/USD Gets Ready to Touch $170 Support – Cryptovibes.com – Daily Cryptocurrency and FX News
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Monero Price Analysis – February 13
Following a decent rise over the past few days, the Monero price now appears to be resuming a bearish run.
XMR/USD Market
Key Levels:
Resistance levels: $200, $210, $220
Support levels: $145, $135, $125
During the European session, XMR/USD has been dropping below the daily high of $176. A few days ago, the bulls tried to take the price to cross above the upper boundary of the channel but the coin later retreated to the downside to touch the daily low of $166. Yesterday, the bulls took control of the market by pushing the price up, where it located the resistance level of $176.80.
Monero Price Analysis: Monero Price May Visit More Downs
According to the daily chart, the Monero price now appears to be resuming a bearish run according to the technical indicator. The next support level may play out at $155 and then locate further critical supports at $145, $135, and $125 if the sell-off later becomes huge. Meanwhile, the technical indicator Relative Strength Index (14) indicates that bears may step back into the market if the signal line moves below 50-level.
However, due to the sharp downward movement at the moment, the Monero price is may struggle to break out of the dominant bearish movement, especially the channel’s boundary. In case of a break, the key resistance levels remain at $200, $210, and $220 respectively.
XMR/BTC Market: Price Keeps Moving Sideways
Against Bitcoin, the Monero price is hovering at 4083 SAT as it crosses below the 9-day moving average. More so, the technical indicator Relative Strength Index (14) suggests that the price may break to the downside as the signal line remains below 40-level. On the contrary, any bullish movement above the 9-day MA, may locate the potential resistance level at 4600 SAT and above.
Meanwhile, if the sellers drag the price below the 21-day MA, the next support level could be located at 3900 SAT and any further bearish movement below the lower boundary of the channel may lead to an additional support level at 3600 SAT and below.
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