- XMR coin price action is going through a moderate correction during the intraday trading session.
- The 24-hour trading volume is at $205 million.
- XMR/BTC pair is trading neutral by 0.1% at 0.00598691 BTC.
The daily technical chart of the XMR coin displays a downtrend. According to the pivot levels, the primary support level is $195. On the other side, if it rushes up, the resistance level to follow is $265. Although the chart forms a Doji star candlestick pattern within the day, it is predicted that the price may remain sideways with medium reliability.
The Zig-Zag framed a top of $518 on 7 May. After that, investors can notice a massive correction of 70%, all the way low to $155. Now price levels are back around the range of $250 this week.
The volume of (1.900K) is below the MA of 20-days (3.01K). As a result, selling pressure is moderate in XMR, causing its price to remain around the pivot zone. Investors may also mark that the volume bars on the chart are declining, which intimates that notable volatility is expected in the upcoming trading session.
The Stochastic RSI (bearish) with a value of K-74 D-84 presents a sell signal in the coin. Investors may observe a declining slant and a negative crossover in the index. It may remain in negative territory for future trading sessions.
Monero (XMR) Coin Chart Shows Moderate Selling Pressure
XMR coin price is $232, with a daily loss of 2.6% and a weekly gain of 6.8%. In addition, the price got rejected around the $240 major zone. The Stochastic RSI indicator shows a sell signal, and the traders have guided moderate selling pressure. Technically, the price shows signs of strength and remains around the positive zone. Therefore, as with overall market sentiment, the trend remains bearish.
Resistance Level: $265
Support Level: $195
