Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Monero Forum => Privacy Coins Forum => Monero News & Updates => Topic started by: Shahinaz on February 12, 2021, 03:23:31 PM
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The Monero (XMR) price is currently in the process of moving above a long-term Fib resistance level at $200.
Monero is expected to move above this level and gradually increase towards $305.
Monero Long-Term Resistance
At the beginning of January 2021, XMR reached a high of $190 but was almost immediately rejected.
Despite the drop, XMR began another upward movement and is currently trading at $200.
This area is important since it’s the 0.382 Fib retracement level measuring from the all-time high price of $475 from December 2017.
If XMR were to break out above this level, the next important resistance area would be found at $305 (0.618 Fib retracement level).
However, technical indicators are undecided. While the MACD and RSI are both bullish, they are losing momentum. The Stochastic oscillator has made a bearish cross.
Therefore, a closer look at lower time-frames is required in order to determine the direction of the trend.
(https://s32659.pcdn.co/wp-content/uploads/2021/02/xmr1-lead3-feb12-1536x805.png.webp)
more in : https://beincrypto.com/monero-xmr-reclaims-200-can-300-next/