XMR/USD Long-term Trend: Bearish
- Resistance levels: $120, $130, $140
- Support levels: $40, $30, $20
The price of Monero is in the bearish trend zone. The crypto is range bound between the levels of $40 and $60. On January 1, the crypto has an opening balance of $47.17. On January 31, the XMRUSD pair fell to the low of $44.22 or has depreciated by 6.25% of its capitalization. Last week, on January 28, the crypto’s price fell to the low of $44.12 and continued its downward fall. Today, the crypto’s price is below the EMAs which indicate that the price is likely to fall. On the downside, the price is expected at the previous low of $39.37.
On the upside, if the bulls break the EMAs and the price is sustained above the EMAs, the crypto is likely to test and break the resistance at the $45 price level. Meanwhile, the Relative Strength Index is level 42 which indicates that the price is in a sideways trend. The crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that the price is in the bearish trend zone.
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