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Monero Price Prediction for Today, November 1: XMR/USD Maintains Bullish Trend; Price Still Needs to Break $160

Monero Price Prediction for Today, November 1: XMR/USD Maintains Bullish Trend; Price Still Needs to Break $160
Monero Price Prediction for Today, November 1: XMR/USD Maintains Bullish Trend; Price Still Needs to Break $160

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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.

XMRBTC – Daily Chart

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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