- The price trend of XMR token is on a downtrend during the intraday session.
- XMR/BTC pair is trading positive by 3.0% at 0.00617383 BTC
- The 24-hour volume in Monero is $169.029 Million
The daily technical chart of XMR token is below the 200-MA. According to the pivot points, the important support level in XMR is $176. However, if it does proceed higher, the important observational resistance is $315. In addition, the chart also has a Doji candlestick pattern showing bulls and bears failed to control the currency’s momentum.
Moving average (MA) composed of 50,100,200-MA works as solid support for currency price changes. Investors can perceive that the price moves underneath the yellow line, ensuring a downward trend in XMR until the price stays below the 200-MA.
The Schaff Trend Cycle indicator (bearish) with 1.03 represents a sell signal in the coin, projecting a downtrend. Additionally, Investors can see a red sell signal and a downward curve in the index.
Volume (1.636K) was lower than the 20-day moving average (3.532K). Traders are guiding selling orders to bring their price levels into negative territory. Investors can also observe sufficient volume on the chart, which indicates that a big move is expected soon.
Monero (XMR) Token Requires Huge Buying Volume
XMR token is at $212, with a daily gain of 5.8% and a weekly drop of 19.8%. The STC indicator shows a sell signal, and the traders have guided the selling pressure. Technically, the price is showing weakness and struggling beneath the EMA-200. In addition, price moves below moving averages and around the support level. Therefore, as with overall market sentiment, the trend remains bearish.
Resistance: $315
Support: $180
