Rebound Amid XMR’s Low Risk?

• There is still time to buy the tokens, according to Monero’s short-term bubble risk indicator. This is due to the relatively safe market conditions.
• Monero crypto price has declined by 10.07% in an intraday session, indicating bearish dominance.
• The value of XMR surpassed 0.002 in relation to Bitcoin. That suggested that if BTC.D declines, the coin may be ready for performance.

From the beginning of December, buyers have been dominating sellers. Amid this, the Monero (XMR) price has displayed a bullish trend and surpassed the $200 mark.

As a result of the bullish rally, the Monero price has touched the $220 mark twice. However, it failed to exceed it. Furthermore, bears have won the battle and dragged down the price below the $200 level.

The XMR price has declined by 14% in less than 2 days and has slipped below the 20-day EMA. It has melted to the previous reversal zone, so buyers might try to push the price again.

Monero’s Short-Term Bubble Risk Indicator for the specified period effectively tracked speculative spikes. It also emphasized the risks associated with them. This typically spikes during periods of increased purchasing fervor.

Technical Analysis of Monero Price Amid Massive Selling

Monero crypto traded at $176.89 at press time, dived by 10.07% over the past 24 hours. The market capitalization was $3.25 Billion, and the 24-hour trading volume was $130.46 million.

Based on the chart structures, the XMR price has experienced strong selling pressure. Furthermore, it has slipped below the 20-day EMA. The price has reached a crucial level of $177, from which strong momentum can be decided.

The Monero price has recently bounced back from this level and advanced over the $200 mark. Here, buyers might show interest, and buying momentum can be anticipated. A buying scenario can be generated if the price forms a bullish candlestick.

Alternatively, sellers may lead the trend if the crypto asset price fails to hold this level. The price has dropped below the 20-day EMA and heading toward the 200-day EMA. Once the price loses the 200-day EMA, buyers might find it difficult to bounce back.

Based on technical indicators, the RSI has dropped below the RSI-based moving average. Now, it has headed toward the oversold zone. MACD has triggered a death crossover with the Signal line but is still in the positive zone. The histograms have flipped to red, which showcases the bearish forecast.

Bubble Risk Analysis For Monero Crypto

XMR has indicated a low to moderate risk of a price bubble. Interestingly, the Monero price had not yet reached high-risk areas. It highlighted that the market was more stable.

A value of 1.28 was much lower than previous years’ peaks. However, it was still safe to invest in Monero without worrying about a bubble popping right away.

The XRP price demonstrated resilience during these times. This continued its upward trajectory without the erratic swings of prior years.

This steady trend indicated that the market was developed enough to provide some slightly safer options for investors. Future XMR growth may be sparked if the trend continues.

Monero Crypto Price Analysis and Forecast

The Monero price has faced significant selling pressure. It slipped below critical support levels, including the 20-day EMA. The recent decline of approximately 10.07% has raised concerns about its ability to maintain momentum,

The concern becomes more vital, especially as the Monero crypto approaches the $177 level. There is potential for buyers to regain control if a bullish candlestick forms. However, failure to hold this support could lead to further declines, especially toward the 200-day EMA.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.