Monero (XMR) Price May Reach Previous Low at $108 Level

Monero (XMR) Price Analysis: July 10

In case the support level of $108 holds, the price may increase towards the resistance levels of $124, $142 and $167. When the bears break down the support level of $108, there may be a price decrease towards the support level of $94, and $88.

Key Levels:

Resistance Levels: $124, $142, $167

Support Levels: $108, $94, $88

XMRUSD Long-term Trend: Bullish

Monero is bullish on the daily chart. Bears pushed the price to the support level of $108 from the high of $203 after the formation of double top chart pattern. The just mentioned level holds and Monero Price pulls back to the resistance level of $124. Last week the bulls’ pressure failed and the bears takes over the market and push the price towards the previous low of $108. The price is gradually increasing towards $142 resistance level.

Monero price is trading above the 9 periods EMA and 21 periods EMA as a sign of bullish momentum.   In case the support level of $108 holds, the price may increase towards the resistance levels of $124, $142 and $167. When the bears break down the support level of $108, there may be a price decrease towards the support level of $94, and $88. However, the relative strength index period 14 is at 44 levels with the signal line displaying bearish direction.

XMRUSD Price Medium-term Trend: Bearish

Monero is on the bearish movement on daily chart. When the bears’ momentum failed at the support level of $94, the bulls gained momentum and pushed the price upside to retest the resistance level of $124 where the price is trying to bounce off. The price is currently heading towards the support level of $108 at the moment.

The price is trading slightly below the 9-day EMA and the 21-day EMA which indicate that bears are in control of the Monero market. The relative strength index is at 42 levels pointing down to indicate sell signal.

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