XMR/USD Long-term Trend: Bearish
Resistance levels: $120, $130, $140
Support levels: $100, $90, $80
The price of Monero is currently in a bearish trend in the second week of November. In the previous week, the digital currency had been bullish and the price rose to the high of $114.84. The bulls were unable to hold the price at that level. However, the XMR price was resisted at the price of $114.73 and it fell to the low of $105.53. Today, the crypto is ranging at the $105 price level.
Meanwhile, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that the price is likely to fall. The indecisive candlesticks are unable to break the 12-day EMA indicating that the price of Monero will remain bearish. If the bearish trend continues the crypto’s price will reach the low of $ 87.02. Nevertheless, the Relative Strength Index period 14 is level 42 which indicates that the price is in a sideways trend zone.
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