Monero Price Analysis: XMR is stuck between a rock and a hard place

Monero trades just under 1% higher but needs some momentum.
The price is now moving into a consolidation phase between 52.00 and 60.00.

XMR/USD 4-hour chart

Monero still has a bullish chart structure posting higher highs and higher lows. The key level on the downside is now 51.07 as if it breaks it will break the bullish trend and print a lower low wave. On the upside, the previous wave high at 60.00 is the most important level for the bulls as if that resistance breaks it will ensure the uptrend continues.

Looking closer at the technical indicators, the relative strength index has moved into a lower zone under the 50 mid-line. The price is also under the 55 exponential moving average which is a bearish sign but the pair is still above the 200 simple moving average. In terms of the key Fibonacci levels, the strongest one looks like the 50% area. It aligns with some previous support and resistance area which gives it even more importance.

Additional levels

XMR/USD

Overview
Today last price	55.4326
Today Daily Change	0.5120
Today Daily Change %	0.93
Today daily open	54.9206

Trends
Daily SMA20	54.8159
Daily SMA50	51.1285
Daily SMA100	62.6732
Daily SMA200	58.7256

Levels
Previous Daily High	58.4271
Previous Daily Low	54.1004
Previous Weekly High	57.4679
Previous Weekly Low	51.0848
Previous Monthly High	70.2655
Previous Monthly Low	26.0055
Daily Fibonacci 38.2%	55.7532
Daily Fibonacci 61.8%	56.7743
Daily Pivot Point S1	53.205
Daily Pivot Point S2	51.4894
Daily Pivot Point S3	48.8783
Daily Pivot Point R1	57.5316
Daily Pivot Point R2	60.1427
Daily Pivot Point R3	61.8583

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