Monero Price Analysis: XMR consolidates above 50.00

Monero trades just above flat as the rest of the crypto market struggles.
The descending triangle pattern on the 4-hour chart has broken to the upside.

Rajan Dhall, MSTA FX Daily

XMR/USD 4-hour chart

The Monero chart structure looks to be more bullish than some of the other major cryptos and altcoins. The market has managed to fend off the 50.00 level after breaking through earlier in the month and now it seems the pair may target the 60.00 psychological zone.

Looking closer at the technical indicators, the volume is on the low side. The relative strength index indicator is still on the bullish side but there is plenty of room for upside movement. If the 60.00 level does break then the 64.40 area looks strong on the daily chart but first the blue resistance needs to be broken first.

Additional levels

XMR/USD

Overview
Today last price	57.0466
Today Daily Change	0.2246
Today Daily Change %	0.40
Today daily open	56.822

Trends
Daily SMA20	52.7948
Daily SMA50	51.9903
Daily SMA100	62.7599
Daily SMA200	58.7283

Levels
Previous Daily High	57.4679
Previous Daily Low	51.6368
Previous Weekly High	60.4289
Previous Weekly Low	52.4376
Previous Monthly High	70.2655
Previous Monthly Low	26.0055
Daily Fibonacci 38.2%	55.2404
Daily Fibonacci 61.8%	53.8642
Daily Pivot Point S1	53.1499
Daily Pivot Point S2	49.4778
Daily Pivot Point S3	47.3188
Daily Pivot Point R1	58.981
Daily Pivot Point R2	61.1399
Daily Pivot Point R3	64.812

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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XMR/USD 4-hour chart

Additional levels

XMR/USD

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