The crypto market is currently exhibiting impressive improvement. The top trending cryptocurrencies like Bitcoin, Ethereum, Ripple are about to breach the 30-days high. The traders are relieved after a long time of struggle. In the last quarter of 2019, the market has crashed.
At the beginning of 2020, there was a slight improvement marked, but the same was followed by pullback pressure. At the moment, Monero is dealing with an uptrend. The same is indicating the upcoming favorable period and the intraday trading looks flourishing.
Monero Price Analysis
Monero started dealing at $63.89 yesterday and in half an hour of its opening, the price jumped to $64.31 by a marginal hike of 0.65%. Then, the currency was trading in a similar range for some time and again, it couldn’t hold for long and dropped to $63.37. In the next 4 hours, the XMR price escalated to $64.62 by 1.92%. The currency slipped in the succeeding hours to $63.32 by 2%. Later, the Monero price escalated to $65.55 by 3.51%. The currency price dropped to $64.40 by 1.76% at 18:28 UTC. The price again picked up to $66.09 but the closing hours experienced a pullback pressure that brought the XMR price to $65.38.
Today, Monero began the day at $65.38, and within the first hour, the price escalated to $67.13. The price immediately slipped to $65.15 by 2.97%. Recently, the XMR price escalated to $66.08 by 1.42%. As per the MACD indicator, the signal line overlapped the MACD line and started moving downward. This might be an indication of the change in the course of the trend.
Currently, the price seems near the immediate resistance level at $66.63. This might get violated in the upcoming hours. However, if the current momentum reverses, then the coin would find immediate support at $64.12.
R1: $66.63, R2: $67.67 & R3: $69.14
S1: $64.12, S2: $62.65 & S3: $61.61