Of all the top cryptocurrencies in the market, Monero (XMR) is the only one that has experienced a steady increase even when the market was bearish. Monero (XMR) price has been bullish today breaking the 100 fibo level of the last decline. The bears were unable to retain momentum after $127.83 while in the demand area giving the bulls the strength they needed to push forward to the $143.76 supply area. This is the highest price hike the cryptocurrency has had in two weeks.
Monero (XMR) Price Today / USD
Monero (XMR) price is higher than the two EMA crossovers. The EMA’s are wide apart indicating strong upward strength. There is the possibility of a bearish pullback that may obstruct the price flow medium-term. Traders need to watch the 23.6 and 38.2 fib levels for uptrend continuation. The 10-day EMA will reject the bears upside.
The oscillator is 78% at the overbought region which means the signals are pointing upward indicating that the bulls are still in control of the market. As the price movement continues, the bullish momentum will only grow stronger.
Monero (XMR) Price Against the USD is Bullish Short-term
Monero continues to stand tall in the bullish territory short-term. Before the end of yesterday’s trading session, the bulls took the cryptocurrency to a new high. There were three dojis at the $128.44 demand area which drove the price to the $143.76 supply area breaking the 100 fib retracement level at $133.35.
According to yesterday’s price analysis by Azeez Mr from BitcoinExchangeGuide, if the session ended either the candle above, upward movement will be imminent. The fact that the daily candle opened bullish at the $141.16 area shows that there is still room for the price to go north. The bottom line is that even if the bears try to stop the price movement, the price will still continue on the upward trend short-term.