Monero Price Analysis: XMR stalls at the 50.00% Fibonacci extension

Monero trades 1% higher on Monday as the majors struggle.
The price has now stalled at the 50% Fibonacci level.

XMR/USD daily chart

Monero is trading around 1% higher on the first trading day of the week. XMR/USD is managing to hold above the psychological 60.00 level. At the moment the price is struggling at the 50% Fibonacci zone which confluences with the red horizontal resistance level.

Looking at the RSI now the signal line is holding in the positive zone above the 50 mid-line. If this is to be a turning point then the black diagonal will need to be broken and the market might then find support at the 23.6% Fibonacci retracement zone.

Another bearish signal is the daily ranges they have dropped off dramatically recently as the daily candles are getting smaller and smaller. The volume has also been pretty thin which can be another sign the market is not interested in prices at these elevated levels.

Additional levels

XMR/USD

Overview
Today last price	61.8519
Today Daily Change	0.5655
Today Daily Change %	0.92
Today daily open	61.2864

Trends
Daily SMA20	56.5843
Daily SMA50	50.134
Daily SMA100	62.3919
Daily SMA200	58.8089

Levels
Previous Daily High	61.9347
Previous Daily Low	59.9612
Previous Weekly High	62.4616
Previous Weekly Low	54.1004
Previous Monthly High	70.2655
Previous Monthly Low	26.0055
Daily Fibonacci 38.2%	61.1808
Daily Fibonacci 61.8%	60.7151
Daily Pivot Point S1	60.1869
Daily Pivot Point S2	59.0873
Daily Pivot Point S3	58.2134
Daily Pivot Point R1	62.1603
Daily Pivot Point R2	63.0342
Daily Pivot Point R3	64.1337

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