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The Monero price prediction shows that XMR may need to break above the upper boundary of the channel if the upside momentum gains traction.
Monero Prediction Statistics Data:
- Monero price now – $150.1
- Monero market cap – $2.7 billion
- Monero circulating supply – 18.1 million
- Monero total supply – 18.1 million
- Monero Coinmarketcap ranking – #27
XMR/USD Market
Key Levels:
Resistance levels: $170, $180, $190
Support levels: $135, $125, $115
XMR/USD has gained over 0.29% since the beginning of the day to trade at $150.1. The Monero (XMR) has become one of the consistent cryptos in the last few days as the coin remains above the 9-day and 21-day moving averages. Currently, the coin’s total market value is registered at $2.7 billion, while its total supply is $18.1 million.
Monero Price Prediction: What to Expect from Monero
On the daily chart, XMR/USD is initially supported by $148, and once this level is broken, the sell-off may locate the nearest support at $145. Meanwhile, if the price crosses below the 9-day and 21-day moving averages, the sell-off is likely to continue with the next focus at $135, followed by $125 and $115 support levels.
On the upside, the market may need to see a sustainable move above the daily high at $150.7 for the upside to gain traction. The next resistance may now be created above the upper boundary of the channel while the potential resistance could be located at $170, $180, and $190 respectively. The Relative Strength Index (14) on the daily chart is moving to cross above the 60-level, signaling that an extended recovery may be underway.
Against Bitcoin, the market has evolved for a while in a very different way. But currently, sellers and buyers are in a tug-of-war about who will dominate the market, but the market price is currently hovering within the 9-day and 21-day moving averages while the Relative Strength Index (14) is suggesting a slight bullish movement as the signal line crosses above the 50-level.
Looking at the daily chart, the bulls are making effort in building the confidence to increase their entries. More so, if the bulls succeed in the broken above the 9-day moving average, traders would expect the market to reach the resistance level of 8000 SAT and above while a bearish cross below the lower boundary of the channel could bring it to the support at 6800 SAT and below.
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