Weak bullish and bearish momentum in XMR market
Monero (XMR) Price Analysis: September 01
In case there is a breakup at $169 resistance level, XMR will increase towards $185 and $203 levels. Should the bears increase their momentum, the support level of $142 may be penetrated downside, which may extend bearish trend to the low of $124 and $108.
Resistance Levels: $169, $185, $203
Support Levels: $142, $124, $108
XMRUSD Long-term Trend: Bearish
On the daily chart, Monero is bearish. The crypto retain its bearish attribute for now. When Buyers pushed up the price to the resistance level of $169 resistance level. Sellers opposed Buyers at the mentioned level. Sellers pushed down price to $142 level, it pulled back. Bulls defended the just mentioned support level. The price is struggling to break down the support level of $142 at the moment. It is ranging around the just support level.
Monero price is trading between the 9 periods EMA and 21 periods EMA as a sign of low bearish momentum. In case there is a breakup at $169 resistance level, Monero price will increase towards $185 and $203 levels. Should the bears increase their momentum, the support level of $142 may be penetrated downside, which may extend bearish trend to the low of $124 and $108. Meanwhile, the relative strength index period 14 is at 49 level with the signal line displaying bullish direction.
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XMRUSD Price Medium-term Trend: Bullish
Monero is on the bullish movement on 4-Hour chart. The bulls’ pressure increase the price of Monero to $169 resistance level. The buyers’ momentum could not break up the $169 resistance level. XMR pulled back to retest $142 level. The sellers’ pressure is not strong enough to break down the $142 support levels. Monero is gradually increasing as buyers are gaining more pressure.
The price is trading above the two EMAs with the 9-day EMA interlock with the 21-day EMA which indicate that an increase in the buyers’ pressure.
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