Monero Price Analysis: XMR Crypto Goes Into Recovery Mode

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  • XMR crypto price levels drop from the resistance of $500 to $402 on intraday session
  • The XMR/BTC pair was trading up by 2.55% at 0.008221 BTC
  • The 24-hour volume in XMR is positive by 12.30% at $542,904,508

The daily technical chart of XMR crypto forecasts price action is in a downtrend and showing minor signs of recovery. According to pivot points, Monero’s critical support level is $370. Whereas if it moves upside, the crucial resistance to watch is $495

Besides, the chart also features a Doji star candle showing bulls and bears failing to gain control over the coin.

The Exponential Moving Average (EMA), consisting of EMA 20 & 50, acts as solid support in the coin’s price. EMA 20 is above the EMA-50 line, indicating bullish momentum. Investors may notice the price is trying to sustain above the EMA-20. So until the price remains above both EMA, it will ensure XMR’s positive trend.

The MACD indicator (Bearish) with the value of 21.95 indicates a sell signal in the coin. A negative crossover beneath the signal is visible on intraday sessions considered to be under selling pressure. Investors can observe emerging red bars in the histogram.

The volume of (23.80K) showcases above the Volume MA (17.75K) of 20-days. The investors in Monero are driving high volume in the order book, which results in the recovery of the XMR crypto. Investors may also observe declining volume in the chart, indicating minor signs of recovery.

The Parabolic SAR has also given a buy signal on April 28. No signs of trend reversal can be observed until now, a great sign for investors to hold their positions in the coin.

Monero (XMR) Crypto Price Indicates Negative Trend On Intraday

The XMR crypto price was trading at $402.66 with 3.0% positive daily and 14.18% negative returns in the weekly period. Technically, the price shows minor signs of recovery. MACD Indicator showcases a negative crossover beneath the signal line in the index. Both EMA is moving in a positive direction. With overall market sentiments, the price may form a short-term recovery at these levels on an intraday session.

Resistance: $495

Support: $370

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