- Monero ($XMR) nears key resistance at $175, with potential to reach $177.
- Increased trading volume and derivative activity support Monero’s bullish trend.
- RSI suggests $XMR is nearing overbought levels, while MACD confirms ongoing positive momentum.
Monero (XMR) has experienced a notable uptrend recently, trading at $175.01, marking a 1.47% gain over the past 24 hours. This positive shift in Monero’s price can be attributed to a series of bullish movements that have unfolded over the past few days.
The cryptocurrency has steadily climbed from a low of around $172.55 to its current level, displaying a consistent pattern of higher highs and higher lows. This price action suggests a strong bullish momentum in the short term.
In analyzing the key support and resistance levels for Monero, several insights emerge. The immediate support level is found around $172.50. This area has previously provided a base for the price before its recent upward surge.
Additionally, a deeper support level exists at $171, which has also demonstrated its ability to trigger a price rebound.
On the resistance front, Monero is currently testing the $1…
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Source: https://coinedition.com/monero-xmr-price-surges-1-47-bullish-momentum-builds/