Monero Price Analysis: Corrects sharply from a six-month high, bullish bias still intact
2020-02-15T12:51:36Z
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Monero (XMR), the 14th largest cryptocurrency with the current market capitalization of $ 1.68 billion and an average trading volume of $167 million,

  • XMR/USD corrects from fresh half-yearly highs hit on Saturday.
  • Technical outlook across the time frames favor the bulls.
  • Coin ditches its other crypto peers, trades in the green.
  • XMR/USD corrects from fresh half-yearly highs hit on Saturday.
  • XMR/USD corrects from fresh half-yearly highs hit on Saturday.
  • Technical outlook across the time frames favor the bulls.
  • Technical outlook across the time frames favor the bulls.
  • Coin ditches its other crypto peers, trades in the green.
  • Coin ditches its other crypto peers, trades in the green.

    Monero (XMR), the 14th largest cryptocurrency with the current market capitalization of $ 1.68 billion and an average trading volume of $167 million, is leading the pack of top 20 widely traded cryptocurrencies this Saturday. The coin has gained almost 2% over the last 24 hours, bucking the bearish momentum seen across the crypto space. At the time of writing, XMR/USD trades near the 95.25 region, having hit the highest levels in six months at 96.78 in the last hour.

    cryptocurrencyXMR/USD

    XMR/USD, 1-hour chart

    • An ascending triangle breakout was confirmed earlier today, pattern target lies at 100.49.
    • Hourly Relative Strength Index (RSI) takes a U-turn for just beneath the overbought territory, looking to test the mid-line at 50.0.
    • Correction from multi-month tops likely to extend in the near-term.
    • Bullish 21-HMA offers immediate support at 94.50 while the next support awaits at 50-HMA of 93.25.
  • An ascending triangle breakout was confirmed earlier today, pattern target lies at 100.49.
  • Hourly Relative Strength Index (RSI) takes a U-turn for just beneath the overbought territory, looking to test the mid-line at 50.0.
  • Correction from multi-month tops likely to extend in the near-term.
  • Bullish 21-HMA offers immediate support at 94.50 while the next support awaits at 50-HMA of 93.25.
  • XMR/USD, daily chart

    • No. 14 coin portrays a potential rounding bottom formation.
    • A break above 97.91 needed to validate the pattern, with the target seen at 151.83 over the next six months.
    • The spot trades above all the key Daily Simple Moving Averages (DMA).
    • Daily Relative Strength Index (RSI) consolidates in the overbought territory, with further room for upside.
    • All in all, any corrective downside in a bargain-buying opportunity for the XMR bulls.
  • No. 14 coin portrays a potential rounding bottom formation.
  • A break above 97.91 needed to validate the pattern, with the target seen at 151.83 over the next six months.
  • The spot trades above all the key Daily Simple Moving Averages (DMA).
  • Daily Relative Strength Index (RSI) consolidates in the overbought territory, with further room for upside.
  • All in all, any corrective downside in a bargain-buying opportunity for the XMR bulls.
  • XMR/USD technical levels to watch

    XMR/USD

    Overview
    Today last price 95.2509
    Today Daily Change 0.4277
    Today Daily Change % 0.45
    Today daily open 94.9132
     
    Trends
    Daily SMA20 78.6978
    Daily SMA50 65.9168
    Daily SMA100 60.0339
    Daily SMA200 65.2513
     
    Levels
    Previous Daily High 95.1302
    Previous Daily Low 90.9657
    Previous Weekly High 95.5428
    Previous Weekly Low 80.4637
    Previous Monthly High 75.9505
    Previous Monthly Low 44.3395
    Daily Fibonacci 38.2% 93.5394
    Daily Fibonacci 61.8% 92.5566
    Daily Pivot Point S1 92.2092
    Daily Pivot Point S2 89.5052
    Daily Pivot Point S3 88.0446
    Daily Pivot Point R1 96.3737
    Daily Pivot Point R2 97.8342
    Daily Pivot Point R3 100.5382

     

    XMR/USD

    Overview
    Today last price 95.2509
    Today Daily Change 0.4277
    Today Daily Change % 0.45
    Today daily open 94.9132
     
    Trends
    Daily SMA20 78.6978
    Daily SMA50 65.9168
    Daily SMA100 60.0339
    Daily SMA200 65.2513
     
    Levels
    Previous Daily High 95.1302
    Previous Daily Low 90.9657
    Previous Weekly High 95.5428
    Previous Weekly Low 80.4637
    Previous Monthly High 75.9505
    Previous Monthly Low 44.3395
    Daily Fibonacci 38.2% 93.5394
    Daily Fibonacci 61.8% 92.5566
    Daily Pivot Point S1 92.2092
    Daily Pivot Point S2 89.5052
    Daily Pivot Point S3 88.0446
    Daily Pivot Point R1 96.3737
    Daily Pivot Point R2 97.8342
    Daily Pivot Point R3 100.5382

    XMR/USD

    Overview
    Today last price 95.2509
    Today Daily Change 0.4277
    Today Daily Change % 0.45
    Today daily open 94.9132
     
    Trends
    Daily SMA20 78.6978
    Daily SMA50 65.9168
    Daily SMA100 60.0339
    Daily SMA200 65.2513
     
    Levels
    Previous Daily High 95.1302
    Previous Daily Low 90.9657
    Previous Weekly High 95.5428
    Previous Weekly Low 80.4637
    Previous Monthly High 75.9505
    Previous Monthly Low 44.3395
    Daily Fibonacci 38.2% 93.5394
    Daily Fibonacci 61.8% 92.5566
    Daily Pivot Point S1 92.2092
    Daily Pivot Point S2 89.5052
    Daily Pivot Point S3 88.0446
    Daily Pivot Point R1 96.3737
    Daily Pivot Point R2 97.8342
    Daily Pivot Point R3 100.5382

    XMR/USD

    Overview
    Today last price 95.2509
    Today Daily Change 0.4277
    Today Daily Change % 0.45
    Today daily open 94.9132
     
    Trends
    Daily SMA20 78.6978
    Daily SMA50 65.9168
    Daily SMA100 60.0339
    Daily SMA200 65.2513
     
    Overview
    Today last price 95.2509
    Today Daily Change 0.4277
    Today Daily Change % 0.45
    Today daily open 94.9132
    Overview Overview Overview Today last price 95.2509 Today Daily Change 0.4277 Today Daily Change % 0.45 Today daily open 94.9132 Today last price 95.2509 Today last price95.250995.2509 Today Daily Change 0.4277 Today Daily Change0.42770.4277 Today Daily Change % 0.45 Today Daily Change %0.450.45 Today daily open 94.9132 Today daily open94.913294.9132
     
    Trends
    Daily SMA20 78.6978
    Daily SMA50 65.9168
    Daily SMA100 60.0339
    Daily SMA200 65.2513
    Trends Trends Trends Daily SMA20 78.6978 Daily SMA50 65.9168 Daily SMA100 60.0339 Daily SMA200 65.2513 Daily SMA20 78.6978 Daily SMA2078.697878.6978 Daily SMA50 65.9168 Daily SMA5065.916865.9168 Daily SMA100 60.0339 Daily SMA10060.033960.0339 Daily SMA200 65.2513 Daily SMA20065.251365.2513
     
    Levels
    Previous Daily High 95.1302
    Previous Daily Low 90.9657
    Previous Weekly High 95.5428
    Previous Weekly Low 80.4637
    Previous Monthly High 75.9505
    Previous Monthly Low 44.3395
    Daily Fibonacci 38.2% 93.5394
    Daily Fibonacci 61.8% 92.5566
    Daily Pivot Point S1 92.2092
    Daily Pivot Point S2 89.5052
    Daily Pivot Point S3 88.0446
    Daily Pivot Point R1 96.3737
    Daily Pivot Point R2 97.8342
    Daily Pivot Point R3 100.5382
    Levels
    Previous Daily High 95.1302
    Previous Daily Low 90.9657
    Previous Weekly High 95.5428
    Previous Weekly Low 80.4637
    Previous Monthly High 75.9505
    Previous Monthly Low 44.3395
    Daily Fibonacci 38.2% 93.5394
    Daily Fibonacci 61.8% 92.5566
    Daily Pivot Point S1 92.2092
    Daily Pivot Point S2 89.5052
    Daily Pivot Point S3 88.0446
    Daily Pivot Point R1 96.3737
    Daily Pivot Point R2 97.8342
    Daily Pivot Point R3 100.5382
    Levels Levels Levels Previous Daily High 95.1302 Previous Daily Low 90.9657 Previous Weekly High 95.5428 Previous Weekly Low 80.4637 Previous Monthly High 75.9505 Previous Monthly Low 44.3395 Daily Fibonacci 38.2% 93.5394 Daily Fibonacci 61.8% 92.5566 Daily Pivot Point S1 92.2092 Daily Pivot Point S2 89.5052 Daily Pivot Point S3 88.0446 Daily Pivot Point R1 96.3737 Daily Pivot Point R2 97.8342 Daily Pivot Point R3 100.5382 Previous Daily High 95.1302 Previous Daily High95.130295.1302 Previous Daily Low 90.9657 Previous Daily Low90.965790.9657 Previous Weekly High 95.5428 Previous Weekly High95.542895.5428 Previous Weekly Low 80.4637 Previous Weekly Low80.463780.4637 Previous Monthly High 75.9505 Previous Monthly High75.950575.9505 Previous Monthly Low 44.3395 Previous Monthly Low44.339544.3395 Daily Fibonacci 38.2% 93.5394 Daily Fibonacci 38.2%93.539493.5394 Daily Fibonacci 61.8% 92.5566 Daily Fibonacci 61.8%92.556692.5566 Daily Pivot Point S1 92.2092 Daily Pivot Point S192.209292.2092 Daily Pivot Point S2 89.5052 Daily Pivot Point S289.505289.5052 Daily Pivot Point S3 88.0446 Daily Pivot Point S388.044688.0446 Daily Pivot Point R1 96.3737 Daily Pivot Point R196.373796.3737 Daily Pivot Point R2 97.8342 Daily Pivot Point R297.834297.8342 Daily Pivot Point R3 100.5382 Daily Pivot Point R3100.5382100.5382