The Monero (XMR) to USD trading pair has gone back to trading in range with supply areas at $220.00, $210.00, $200.00 and demand zones at $40.00, $50.00, $60.00. The price of XMR lost the bullish pressure that spiked the price two days ago. The bears entered the market when the price was at $109.20 which is in the supply area. The bullish momentum subsided and the coin entered into consolidation as the bears pushed the price of Monero (XMR) below $94.32. Irrespective of the bullish start of the day at $98.53, the bears pushed the price further south.
Monero (XMR) To USD Trading In Range
The XMR to USD trading pair is ranging between $100.00 and $80.81 in the supply and demand areas respectively. The best thing for traders to do now is to remain patient and allow the ranging to continue until the cryptocurrency breaks down or breaks out before making any decision.
Monero (XMR) Price Today – XMR / USD
Short-term, the XMR to USD pair is still trading in range. There was some bullish pressure around $79.93 which was in the demand area but it was lost at $109.22 which was in the supply area thanks to the interference of the bears. The bears were able to push the price of Monero (XMR) to the $94.83 level in the demand area. After this, a price consolidation started with the stochastic oscillator at 29%.
Monero continues to trade in range between $99.33 and $88.91 short-term. This is according to the price analysis of Aayush Jindal on Bitcoin Exchange Guide. The next few trading sessions will determine if the cryptocurrency will breakout or break down. It would be unwise to sell off or over buy at this time. After the cryptocurrency has taken a long-term position, you can consider doing the same thing.