XMR/USD Long-term Trend: Bearish
- Resistance levels: $120, $130, $140
- Support levels: $40, $30, $20
The XMRUSD pair is in the bearish trend zone. On January 1, the price of Monero has an opening balance of $47.17. On January 10, the crypto’s price fell to the low of $45.79 and had been trading below the 12-day EMA and the 26-day EMA. The price of Monero had been fluctuating between the levels of $43 and $46 in a tight range .
On January 28, the crypto was resisted by the EMA as the price fell to the low of $ 44.12. Today, the crypto is still falling approaching the low of $43.39. The crypto is likely to fall to test the previous low of $39.37 because price is in the bearish trend zone.
Meanwhile, the stochastic is out of the overbought region but below the 40% range. This indicates that the price of Monero is in a bearish momentum and a sell signal. The crypto’s price is gradually falling and will reach the oversold region which is below the 20% range. Also, the crypto has lost about 6.46% of its capitalization in the month of January.
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