Monero [XMR] is still in a bearish territory based on its medium-term perspective. Bear pressure was very strong and the value of the digital currency fell to the $ 113 mark in the demand area before yesterday's market closed.
The four-hour opening candlestick was a bullish pin and the expected bullish momentum has arrived but has been surpassed by the 10-day exponential moving average which serves as a key resistance to the rise of the currency.
In addition, the stochastic is in the oversold territory at twenty-seven percent. The oscillator signal is heading south, which indicates that downward movement in the value of the digital currency may resume when bear pressure becomes strong over the medium term.
Monero [XMR] Short-term trend
The digital currency is still in the short-term perspective. The pressure of the bears in the interval pushed the value of the coin to $ 111 in the demand area. The bearish top was an indicator of the return of the bulls and the value of the coin was pushed to $ 115 in the refueling area before the lack of momentum cleared the way for the bears to push the coin to $ 112.
the digital currency is correcting higher and trade between $ 111 in the demand zone of the lower price range and $ 117 in the supply zone of the higher price range. A brilliant strategy for gaining gains within the lower and upper channels could be considered while carefully awaiting a failure or breakout.
Monero (XMR) Price today – XMR / USD
At the time of writing, Monero [XMR] is trading at $ 115 after losing about 0.5 percent of his value in the last twenty-four hours. The market capitalization of the digital currency is $ 1.88 billion and its trading volume over the past twenty-four hours is $ 22.08 million.