- XMR performed a negative momentum on Monday’s trading session
- Monero price is $227.94, which is down by 10.34% in the last 24-hour time-frame and 6.54% up from the previous week
- XMR/BTC pair is negative at 0.37% in Monday’s trading session (0.004289)
Monero had negative momentum on the weekly chart, and it went up to $288.24 on February 20, 2021, while breaking above the resistance zones created in the past. Monero price set a mark of a 52-week high. Meanwhile, the trading volume of $912,662,615 in the last 24-hour time-frame represents a decrease in value of 5.48%. The XMR/ETH pair is in an uptrend with a value of (0.13045) which is up by 1.99% in Monday’s trading session.
Monero Technical Chart Indicates a Negative Momentum
The technical chart of Monero highlights a negative trend. In contrast, Monero price is at $227.94. According to pivot points, the critical support level for XMR is placed at $214.0 whereas if it moves up, the key resistance level to watch is $278.75. While diving into the weekly chart of a 4-hour time-frame, it completes a bearish hammer candlestick pattern. indicating the bears have overwhelmed the bulls and are now in control.
Volume indicator with the sum (3.578K) reflects a low selling volume in the coin. Investors can expect a decrease in selling volume in upcoming trading sessions.
SMA-200, price is at $176.92, which acts as another strong support in the coin. The price is above the SMA, and investors can expect a bullish trend in the coin.
MACD indicator (BEARISH), bearish crossover signal line spotted on February 22, 2021, which indicated a sell signal in the coin during the trading session. Also, it denotes the massive red bars on Histogram.
RSI indicator (BEARISH) with a value of 33.70 indicates a sell signal in the coin and has been falling down from the bullish territory. One can observe a decrease in value in upcoming trading sessions.
Monero price is down by 10.34% on Monday’s trading session. The price is above the SMA of $176.92. Investors can see the movement of price towards the support level of $214.0. All technical indicators suggest a sell signal in the coin.