Monero; the Bulls Struggle to Keep the Intraday Gains

Fibo Quantum

XMR Price Analysis – March 15

XMR/USD keeps the intraday gains as the bulls retreat while the coin explores higher levels of $42 from $33 primary support.

XMR/USD Market

Key Levels:

Resistance levels: $60, $65, $70

Support levels: $15, $10, $05

XMRUSD – Daily Chart

Looking at the daily chart, the price of Monero (XMR) is seen moving upward after many days of decline. The cryptocurrency market corrects itself after the gains made in a couple of days ago. Today, Monero made a slight increase in the opening price from $35.44 to a peak of $40.63.

Currently, XMR/USD is hovering at $37.22 gaining about 3.18% within 24 hours. Looking at the north, the immediate resistance is $45, which may allow a new retest at $50. A correction above the 9-day and 21-day moving averages may pave the way for gains of $60, $65 and $70 resistance levels.

On the downside, immediate support is $25. It is important to note that $20 is a key level of support, while the main support levels are $15, $10 and $05 as the RSI (14) is bearish while the moving within the oversold conditions.

XMR/BTC Market

Comparing with Bitcoin, on the daily chart, Monero (XMR) is looking bullish as price rises above the 9-day moving average at 7258 SAT. Now, the bull appears to be stepping back in the market, and we can expect the price to rise to 7600 SAT and 7800 SAT resistance levels. But as at the time of writing, XMR/BTC is changing hands at 7024 SAT.

XMRBTC – Daily Chart

Moreover, if the sellers push the price beneath the current 7024 SAT, the next level of support is located at 6300 SAT and more support is found at 6000 SAT and 5800 SAT. The trading volume has significantly increased while the RSI is moving towards level 40, raising the hope of buyers.

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