92
Key Levels
Resistance Levels: $535, $430, $355
Support Levels: $300, $250, $200
XMR/USD Daily Chart: Ranging
XMR/USD Daily Chart
After sharp losses since the prior week which intensified to lows of $136 on May 19, XMR has clawed higher to trade back above $300. The RSI, still below the mid 50 reading, is reflecting the pickup in positive momentum. If buying interest intensifies, preliminary upside constraints may emanate from the MA 50 at $359. Surpassing this barrier, buyers could then target the $398 and $428 levels.
Triumphing over these hurdles too, XMR price may then pilot for the resistance section between $456 to $504 before targetting the recent all-time high at $533. Alternatively, if sellers manage to take the reins, immediate support could occur at $250 before the MA 200 support at $216 comes into view. Breaking below this level, the $180 and $136 low could attempt to halt the declines.
XMR/USD 4-Hour Chart: Ranging
XMR/USD 4-Hour Chart
XMR/USD is edging higher again after the rebound off the downside lows of $146 and is approaching the 4-hour MA 50, which is acting as strong resistance around $346. The bearish intersection of the MA 50 and 200 would potentially provide immediate resistance if the market attempts to further recovery. That said, a successful attempt above the MA 50 ($346) and then the MA 200 ($392) could take the XMR/USD pair towards the $449 level before flirting with the $500 psychological handle. More increases could send the bulls to retest the May 8 all-time high of $533. Alternatively, a dive beneath the current levels could meet the $279 support ahead of the $236 level before slipping to $219. Steeper losses could see to a retest of $180 support ahead of the $146 low. The RSI at mid-level reading may suggest likely sideways trading before the next major move.
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