FeedTheCoin logo FeedTheCoin logo
Cryptopolitan 2021-09-22 02:08:35

Monero Price Analysis: XMR crashes to $220 support

TL;DR Breakdown On the 24-hour time frame, the daily Monero price analysis indicates bearish sentiments.The daily range is from $214 to $226 daily.On the 1-hour chart, our MACD histogram displays short red bars. The 24-hour chart shows that the bears have taken control of the market following the bulls’ failure to maintain prices above $260. As a result, the price dropped from around $261 to approximately $214. Our outlook for Monero is negative, and we expect it to weaken further. We anticipate the decline to continue throughout the day, with a first bear target of $210 set. This is in case the buyers don’t consolidate enough power to withstand any future upside rejections. In the overall market, cryptocurrencies are trading bearishly, with BTC losing 4.15 percent in value. Ethereum, on the other hand, has dropped by more than 6% on the 24-hour dial, while Cardano decreased 7.49 percent to take the lead as the worst performer. Monero price analysis in the last 24 hours: XMR/USD struggles to beat $230 resistance The XMR/USD pair was confined to a limited daily range, which crossed an intraday low of $214 and an intraday high of $226. The range implies decreased volatility. The daily trading volume also increased by 37 percent to $221 million, according to our daily Monero price analysis. Meanwhile, the last 24 hours have witnessed a 5.5 percent decrease in Monero’s total market capitalization to a sum of $4.589 billion....

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.