Monero (XMR) Reclaims $200 — Can it Reach $300 Next?

[Shahinaz]

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.



more in : https://beincrypto.com/monero-xmr-reclaims-200-can-300-next/