Monero Price Development: XMR about to Face Resistances

Monero Price Development: XMR about to Face Resistances 13

Monero price is taking turns with a speedy return upward. However, the pair XMR/USD facing offers around the $440 area.

Important to Note:

  • After dipping to the lows of $345.00, Monero price returned hasty climbing to the $400.00 trading platform [confidence signal in maintaining higher trader ground].
  • The pair XMR/USD cleared the declining trend line since its new all time high on the daily chart development.
  • Overcoming the $440.00 hurdle could secure an upcoming retest of its record mark.

Monero: Crypto Value Movement

The first week since the new year started very well for Monero, reaching a new all-time high just below the $500.00 where bears took control of the market and tanked it lower.

monero value analysis

Source: coinmarketcap

The jump above the descending line was high and quick as it seemed like deep pocket figures reached quite much and took action on such a dip. On the first attempt a day ago, the hurdle around $440.00 acted as a barrier for any continuation on gain.

Today, the same event is taking place on the hourly chart, however the stability is there on the supportive bullish trend which could signal out that an overcome of above mentioned resistance mark is laying on the very near term. If the latter one does come true, most likely XMR against the US Dollar will retest its all-time high for a second time and hopefully make it above $500.00 this time. If sellers take control and push the token value downward, supports sitting around $410.00 could do the job and stop any further losses.

Trade safely and do not overtrade – support Crypto!