XMR Price Analysis – May 13
XMR/USD keeps the intraday gains of 6.92% as the coin explores higher levels and touches $68.49.
Resistance levels: $75, $80, $85
Support levels: $55, $50, $45
XMR/USD is currently seen following the upward movement as the coin trades in green since a couple of days ago. The cryptocurrency market corrects itself like Bitcoin and other top coins. XRP/USD made a tremendous increase from $61.35 after dropping to $60.78 to a peak of $71.92 with a gain of 6.92%. The Monero (XMR) is currently hovering at $65.92, trading above 9-day and 21-day moving averages.
However, Monero is one of the few digital currencies that keep the intraday gains at the time of writing but looking at the daily chart, a correction above the channel could pave the way for gains in resistance levels of $75, $80, and $85. On the downside, immediate support is $63. It is important to note that $60 is a key level of support, while the main support levels are $55, $50, and $45, but the RSI (14) is about to cross above the 60-level to indicate more bullish signals.
Against Bitcoin, the market price remains within the ascending channel for a while now, currently trading at 7067 SAT and expecting a break out above the channel. Looking at the chart, if the coin can make a cross above the channel, the bulls may end up dominating the market.
However, if the market drops, the next key supports may likely be at 6200 SAT and below. On the bullish side, a possible rise could push the market to the resistance levels of 8000 SAT and above. According to the daily RSI (14), the market may continue the uptrend as the signal line moves above 45-level, which could give more bullish signals.
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