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The Monero price prediction reveals that XMR faces key support as the market price heads to the downside.
Monero Prediction Statistics Data:
- Monero price now – $156.9
- Monero market cap – $2.8 billion
- Monero circulating supply – 18.1 million
- Monero total supply – 18.1 million
- Monero Coinmarketcap ranking – #27
XMR/USD Market
Key Levels:
Resistance levels: $180, $190, $200
Support levels: $140, $130, $120
Your capital is at risk
As the market opens today, XMR/USD drops with a bearish bias as the coin heads toward the support level of $150. For the past few days, the Monero price did start a nasty decline and has been breaking many supports. The market price could correct higher, but it is likely to face more sellers on its way towards the lower boundary of the channel.
Monero (XMR) May Move Sideways; Massive Gains on Tamadoge (XRM)
Looking at the daily chart, the Monero price is breaking to the downside, and it is likely for the coin to break down heavily to gain more downtrends. However, should it spike below the channel, the critical support levels of $140, $130, and $120 may be reached as the technical indicator Relative Strength Index (14) moves above the 40-level.
More so, XMR/USD could either stay above the 9-day and 21-day moving averages or extend its decline towards the support level of $150. On the upside, the next major resistance could be found near the $160 level. Meanwhile, the price needs to climb above the $180, $190, and $200 resistance levels to move back into a positive zone. If not, there is a risk of more downsides below the channel.
When compares with Bitcoin, the daily chart reveals that the Monero price is likely to slide below. However, if the price crosses above the channel, there is a possibility that the coin may continue the upward movement. Therefore, if the price rises, it could even break the 8700 SAT and above in future sessions.
However, if the bears bring the price towards the lower boundary of the channel, 7500 SAT support may play out. Any further bearish movement could bring the coin to critical support at 7300 SAT and below as the Relative Strength Index (14) is likely to cross below the 70-level, suggesting bearish signals.
Tamadoge is combining the fun of Tamagotchi with the play-to-earn mechanics made possible with NFT technology applied to gaming. Earlier this week the project completed the sixth phase on the project in which the coin was priced from 1 USDT to 44 TAMA. The price has since increased, to 1 USDT buying 40 TAMA. There will be nine tranches of token sales in all, with the price increasing at each stage. 711 million tokens have been sold so far out of a total of 1 billion that is available in the presale out of a total supply of 2 billion.
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