Monero Reverses Yesterday’s Declining Movement & Rallies to $64

Fibo Quantum

The crypto market is reflecting moderate correction after yesterday’s impressive movement. However, the currencies are spotted battling the same very fiercely. Monero price is spotted improving since the opening period of the day.

The XMR price was around $60 at the beginning of the week. The coin adopted steady and steady improvement, and within a week, the price reached $64. There were few picks and drops marked, but the same couldn’t hamper the momentum of the currency.

Monero Price Analysis

XMR/USD Chart By TradingView

XMR price was spotted at $60.75 on April 25, and it was trading with moderate momentum at that time, but around 10:00 UTC, the price improved and touched $61.73. Then, the coin hovered around the same level until the second half. However, in the last few hours, the Monero price fell to $60.60. On the next day, the currency spotted around $61, and around 11:00 UTC, the coin spiked to $64, but immediately it corrected down to $62 and continue to trade with moderate fluctuations. After that, over the next two days, the currency marked moderate upside momentum and traded around $63 mark.

On April 28, the XMR coin price spiked at $63.84, and then, it reflected pullback pressure that brought the price below $62. However, from the next day, Monero started with strong upside momentum and escalated as high as $68.53, which reshuffled the 30-day high. Later, the coin fell drastically and spotted below $61. Today, the XMR coin initiates strong recovery, and at the time of writing this analysis, it spotted at $64.09.

Currently, Monero holds support from its 20 & 50-day MAs at $63.57 & $63.2,1 respectively. The RSI is trending in the overbought region at 75.95. As per the current momentum, the XMR coin might cross its immediate resistance level at $66.57.

Resistance & Support Levels

R1: $66.57, R2: $70.67 and R3: $72.96

S1: $60.18, S2: $57.89 and S3: $53.79