XMR Price Analysis – October 24
XMR/USD maintains the uptrend as the market price keeps the intraday gains.
Resistance levels: $140, $145, $150
Support levels: $120, $115, $110
XMR/USD has recently struck a major price jump as the technical indicator appears bullish; RSI (14) moves above 60-level. Monero (XMR) has just formed a few correcting candles after hitting the price point above $136. At the moment, the coin is trading well above the 9-day and 21-day moving averages.
Where is XMR Price Going Next?
As XMR/USD moves above the moving averages, a further drop could bring the coin to $120, $115, and $110 which are the next support levels. Meanwhile, the technical indicator RSI (14) reveals that the buyers may continue the upward movement by pushing the price above the upper boundary of the channel. The resistance levels to watch are $140, $145, and $150.
XMR/BTC Market: Consolidating to the Downside
Against Bitcoin, the Monero price is changing hands at 9895 SAT and it is currently trading within a channel and below the 9-day and 21-day moving averages. The RSI (14) suggests that the price may break down if the signal line crosses below the 45-level. More so, the nearest support levels may be at 9000 SAT and below.
Meanwhile, if the buyer holds the price tight and push it above the moving averages to trade at 1050 SAT, the next level of resistance may be located at 1100 SAT and more resistance could be found at 1150 SAT and 1200 SAT. The trading volume is now increasing as the technical indicator moves around the 47-level.