Monero (XMR) Price Analysis: June 26
In case the bears increase their momentum, the support level of $244 may be penetrated downside, which may decrease the price to low of $189 and $161. When there is a breakout at $281 resistance level, Monero price will increase towards $322and $361 levels.
Key Levels:
Resistance Levels: $244, $281, $322
Support Levels: $189, $161, $136
XMRUSD Long-term Trend: Bearish
Monero is bearish on the daily chart. Two weeks ago, the price was consolidating within $281 and $244 price level. There was a bearish breakout at $244 level. The bearish momentum pushes XMR towards the $189 last week but the bulls interrupts the downward movement. The price retraced back towards the support level of $244. The bearish movement continues and the price is trying to break down $189 price level.
Monero price is trading below the 9 periods EMA and 21 periods EMA as a sign of bearish momentum. In case the bears increase their momentum, the support level of $189 may be penetrated downside, which may decrease the price to low of $161 and $136 levels. When there is a breakout at $244 resistance level, Monero price will increase towards $281 and $322 levels. However, the relative strength index period 14 is below 40 levels with the signal line displaying sell signal.
XMRUSD Price Medium-term Trend: Bearish
Monero is on the bearish movement on 4-Hour chart. The sellers’ pressure has broken down the $244 support level. Likewise, the pressure is pushing the price towards the $161 support level. Bearish movement may not continue as the sellers’ momentum is becoming weak.
The price is trading below the two EMAs with the 9-day EMA below the 21-day EMA which indicate that bearish movement is in progress. The relative strength index is at 40 levels pointing down to indicate sell signal.
