XMR Price Analysis – February 14
Monero (XMR) has cleared the resistance above $90; a stable move above $98 is a must to sustain the upward trend.
Resistance levels: $85, $87, $89
Support levels: $68, $66, $64
Monero price has been gaining an upward momentum over time. The price chart of the past 12 days indicates a slow and steady momentum of XMR with the price starting from a low of $72 to end with $94. After a downside movement that occurred yesterday, Monero coin continued to trade upwards as the market opens today and reached a high of $95.64 with a gain of 1.82%.
Earlier today, the price of XMR registered a slight price fall from $92.01 to $90.19 after which the price moved back upward. However, if we look at the overall trend of the past few days, the coin holds steady upward momentum and this trend may remain intact. As the RSI (14) stays within the overbought, the resistance levels to keep eye on are $103, $105 and $107 while the support levels lie at $83, $81, $79.
Comparing with Bitcoin, on the daily chart, Monero (XMR) is looking bullish as the price touches the new high at 9199 SAT. Now, despite the ups and downs, the bull has been dominating the market since the beginning of this month. Any further movement above the channel may push the price to 9700 SAT and 9900 SAT resistance levels.
Moreover, if the sellers step back into the market and drag the price beneath 8800 SAT, the next level of support is located at 8600 SAT and more support is found at 8500 SAT and 8300 SAT. The trading volume has significantly increased while the RSI is moving within the overbought territory with more bullish signals.
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