Monero Hits $78.8; Next Target Awaits at $80

Monero Price Analysis
  • Monero (XMR) price movement is on a bullish run
  • The gained momentum helped the coin to breach previously marked 90-day high

Monero price movement exhibited astounding improvement in the yesterday’s trading duration. The currency was spotted at $78.8 in the second half of the day. The anticipations were ripe that the coin might experience selling pressure in today’s run which was also felt in the opening hours of today’s movement, but soon the momentum improved. Recently, Monero again touched $78.8 i.e. 90-days high. The traders are now eyeing for the coin to touch $80 in the second half of the day.

Monero Price Chart:

Monero began trading at $74.93 in yesterday’s opening hour and in the next 2 hours, the coin slipped to $74.37 by 0.74%. The currency improved and touched $75.24 at 07:31 UTC. Further, the coin dropped to $74.87 by 0.90%. There was astounding escalation in the price which took the coin to $78.43 by 4.75% by 14:13 UTC. The price slipped to $77.25 just to again pick up the momentum and mount at $78.80 and breached the 90-day high. In the next 4 hours, the coin dropped to $77.40 by 1.73%. The closing hour brought a marginal improvement in the price as the coin was at $78.10. Today, the opening hour brought XMR coin to $76.32. By 04:02 UTC, the coin was at $78.10 by 2.34%. The price hovered at the same level for a while. Later, the currency escalated to $78.8.

As per the MACD chart, Monero might be exhibiting uptrend as the MACD and the Signal line is directing and upward movement.

The current price of Monero is $78.8 and looks like the immediate resistance level at $79.64 might get breached in the coming hours. The next resistance level at $81.29 might get violated by the end of the day.

R1: $79.64 R2: $81.29 R3: $83.73

S1: $75.55 S2: $73.11 S3: $71.46