Monero price analysis: XMR/USD retreats from recent high, still above $70.00

XMR/USD stays in a green zone even after the downside correction.
The strong support is located on the approach to $68.30

Monero (XMR) is in the green zone, gaining over 4.7% of its value on a day-on-day basis. Monero, now the 11th largest digital asset with the current market value of $1.2 billion is changing hands at $70.65 at the time of writing, off the intraday high registered at $74.69.

Travala adds Monero to the list of payment options

A blockchain-based travel booking platform Travala now accepts Monero (XMR) as a payment option. It means that the platform customers are now able to use the coin to book hotels in over 210 countries and travel to 82,000+desitinations.

Monero’s technical picture

On the intraday basis, XMR/USD retreated from the recent high reached at $74.69 and settled in the middle of $70.00-$71.00 range. Initial support comes at psychological $70.00, followed by 69.60 ( the middle line of 4-hour Bollinger Band). Once it is out of the way, the sell-off is likely to gain traction with the next focus on $68.30 (a combination of SMA50 (Simple Moving Average) and SMA100 1-hour).

On the upside, a strong resistance awaits the coin on approach to the recent high. It is strengthened by SMA200 and the upper line of 4-hour Bollinger Band on 1-hour chart.

XRP/USD, 1-hour chart

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