• Monero trades 5.42% higher on Wednesday outperforming the crypto majors.
  • The major resistance for the bulls stands at 68.265 and a break would mean a new wave high.

XMR/USD 1-hour chart

Monero has been trading well in recent session and on Wednesday pushed over 5% higher. The price has now broken the red trendline on the chart and looks set to hit the green resistance zone at 65.82. Beyond that, the high on the chart stands at 67.67 and the bulls will be looking to take this out to test the psychological 70.00 zone. 

Looking at the indicators, one potential problem could be the lack of volume. The volume on the sell-side seems much larger than the buying volume at the moment. The relative strength index indicator is also in a overbought position and this indicates there could be a small pullback. Lastly, one positive is the price holding above the 200 and 55 moving averages. This will be looked as bullish and if the price does drop they could act as support zones. 

Monero Rocket

Additional levels

XMR/USD

Overview
Today last price 64.7797
Today Daily Change 3.3432
Today Daily Change % 5.44
Today daily open 61.4365
 
Trends
Daily SMA20 61.761
Daily SMA50 56.4473
Daily SMA100 61.5748
Daily SMA200 59.3694
 
Levels
Previous Daily High 62.1407
Previous Daily Low 59.1937
Previous Weekly High 65.8981
Previous Weekly Low 57.3825
Previous Monthly High 68.4603
Previous Monthly Low 46.6161
Daily Fibonacci 38.2% 61.0149
Daily Fibonacci 61.8% 60.3194
Daily Pivot Point S1 59.7065
Daily Pivot Point S2 57.9766
Daily Pivot Point S3 56.7595
Daily Pivot Point R1 62.6536
Daily Pivot Point R2 63.8706
Daily Pivot Point R3 65.6006

 

 


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