The price of Monero is bullish with supply zones at $200.00, $210.00 and $220.00 and demand zones at $90.00, $80.00, and $70.00. In today’s XRM price analysis, Monero is bullish short and medium term. The price moved up above the $140.01 level and further to $149.10 which is a supply area. The price is above the two EMA crossovers. This price action led to a bullish engulfing candle that had the 10-day EMA as support as the bulls came back to the market. The bears were subsequently pushed away from the market after a minor pullback which was necessary for the upward trend to continue.
XMR Price Analysis For July 25
The Fibonacci retracement indicates that Monero’s price is within the 23.6 Fibonacci retracement level. The bears may continue to feel pressure till it gets to the 38.1 Fibonacci retracement level. These are continuation zones showing that the bulls will have control of the market. The 38.2 Fibonacci retracement level is near the 10-day EMA serving as a strong support for the bulls.
Monero (XMR) Price Today – XMR / USD
Short-term, XMR price analysis show that Monero is trading in range. The bulls gathered momentum as the price crossed the $149.10 support area because of the formation of a railway track when the market opened. The bullish momentum became weak when the bears set in and forced the price to go below the 10-day EMA. The stochastic oscillator is at 53% with signals pointing downward indicating that the bearish pressure increased.
Monero is consolidating trading between the $145.47 supply area and the $136.69 demand area. Azeer. M from Bitcoin Exchange Guide encourages traders to wait patiently for the price to break out at the higher range or breakdown at the lower range before they attempt to take a long term position in the market to avoid losing your capital. Waiting and studying the charts is your best move right now.