XMR Price Analysis – September 21
The Monero (XMR) is seen recovering its loss in valuation since yesterday but the coin is still finding it difficult to cross above the $95 price mark.
Resistance levels: $98, $100, $102
Support levels: $86, $84, $82
XMR/USD is trading around the 9-day moving average now; a steady uptrend above $95 is a must for a full recovery. Monero price was firmly above $95 a couple of days ago before yesterday, and the coin is now making it so difficult to recover its decline of more than 2%. The price plunge is no surprise to the crypto community as the market has entered a slump phase, which apparently won’t last long.
What to Expect from Monero (XMR)
As suggested by the technical indicator RSI (14), a potential fall could hit the nearest support at $88 level, trading below the 9-day and 21-day moving averages. If the rally continues to move downward, the XMR/USD could make a bottom at $86, 84, and $82 respectively. A long position, however, may possibly shoot a price at $98, $100, and $102 resistance levels.
XMR/BTC Market: Keeping the Uptrend Tight
Comparing with Bitcoin, the price has been following the upward trend since July 28 when the bulls stepped back into the market by halting the downward trend. Moreover, the coin is still showing some promising signs and it could continue to make higher highs in as much as they remain above the 9-day and 21-day moving averages. Similarly, the nearest resistance level to reach is 8700 SAT, above this, higher resistance lies at 9000 SAT and above.
Meanwhile, if the sellers hold the price and push it beneath the current price of 8598 SAT, the next level of support is located at 8200 SAT, and more support is found at 8100 SAT and below. Meanwhile, the trading volume has significantly increased while the technical indicator RSI (14) is about to cross above the 60-level, giving more bullish signals.