Monero [XMR] has been dormant while all other cryptocurrencies have been spiking under the influence of the bulls. The XMR token has been in red in both the 1-hour and 24-hour charts. At the time of press, the price of Monero was $111.44, with a market cap of $1.8 billion. The 24-hour volume is at $16.95 million, with the major contributor to the trade volume coming from Bithumb.
Short-term supports are set up at $110.17 and $105.06, while there is one short-term resistance set-up at $114.25.
The MACD indicator indicates a bearish crosser. The histogram shows the same as red bars are forming below the zero line.
The Awesome Oscillator indicator shows red spikes developing above the zero line, indicating a shift in the momentum from buy to sell, which is essentially a bearish trend.
There is an uptrend gaining ground from $84.207 to $101.77. It extends till $105.36 and the downtrend is spanning over the range of $292.71 to $113.16.
The previously set support at $99.88 is holding strong, while the same can be said of the support at $84.207. The resistance at $115.95 has been broken by the wick which is currently forming. Successive resistances are set up at $137.89, $164.63 and at $212.87.
The Bollinger Bands are in a squeezed state, indicating a period of low volatility in the market. The prices are well above the EMA indicating a bullish presence.
The Chaikin Money Flow has been steadily increasing which indicates that money is flowing into the market.
The RSI is rising from the depths indicating that the buyers are controlling the market.
The indicators in the one-hour trend show a bearish presence hanging over them. The scenario reverses when we look at the charts in the one-day timeframe as Bollinger bands, CMF, and RSI, all indicate a bullish move happening in the market.
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