Monero Price Analysis: Bears Retake Control, Push XMR Down to $154.95
The Monero market is currently in a bearish trend, with the XMR/USD pair trading at $154.95.
The pair has been on a downtrend, losing about 0.53% of its value in the past 24 hours. Market sentiment remains negative, with the MACD indicator in the bearish zone and the RSI at 57.70, indicating that the market is neither overbought nor oversold.
However, the MA line for the one-day timeframe is crossing above the candlesticks, which suggests that there may be some bullish pressure in the market. In the short term, the 4-hour Monero price analysis shows that bears are pushing the price down, with the XMR/USD pair fluctuating between $153 and $154.
Overall, the Monero market is expected to continue its downtrend as selling pressure remains high and investors remain cautious about the economic conditions. If this selling pressure persists, prices may continue to fall.
Monero Price Prediction: XMR May Fall Toward $150.87 Support
According to Monero price analysis, the XMR/USD pair is ready to decline further and may push back toward the $150.87 support. Resistance for the pair is set at $152.80, while support is found at $156.64. The volatility for Monero is relatively high, and the Bollinger Bands movement shows both ends on a downslope with their average line above the price level, indicating that the price may go down in the near future.