Monero (XMR) Stalls Recovery During Day-long Run

Monero was spotted booking profit since the opening hour. It was speculated that the coin would give a positive result to the intraday traders. However, the coin is currently reflecting a slight pullback pressure. The pressure might take the price down in the impending hours. Apparently, the XMR coin was stalling the intraday recovery. To understand the momentum more precisely, let’s have a look at the chart.

Monero Price Analysis

Yesterday, XMR coin began the day at $62.31, and in the next 5 hours and 42 minutes, the price slipped to $59.01 by 5.30%. Then, the price locked itself at $59.47 for a while. Later, the currency dropped to $57.78 by 2.90% at 10:30 UTC. Further, the coin took off to an astounding level and marked a steep hike. Monero’s price touched $62.91 by a massive hike of 8.87%. The coin slipped a little to $61.5 by 1.93%. Then, again the currency price jumped to $62.66 by 2.08% and further, it dropped to $61.49 and closed the day. The day-long movement exhibited a 1.20% regression in the XMR price.

Today, Monero opened the day with a fall of 2.51% at $59.95. Then, the coin trades stable for a while and then surged to $61.52 by 2.09% hike. As per the MACD chart, the signal line is overpowering the MACD line. This might be an indication of further fall. The coin is currently at $60.98. The possibility of touching the immediate support level at $58 is thick. The closing might bear the loss for the intraday trading.

R1: $63.75 R2: $65.73 R3: $68.53

S1: $58.97 S2: $56.17 S3: $54.19