Monero Finds Support at the 20-day Moving Average, XMR Could Rally to $300
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Past Performance
Monero is surprisingly down versus the USDT in the past 24 hours when most crypto assets are up in the positive territory. The XMR coin is stable, losing one percent in the past 24 hours. However, it is up nine percent in the previous trading week.
Monero Technical Analysis
Monero bulls are firmly in control. Despite the optimism, buyers appear to be slowing down. From the Monero candlestick arrangement in the daily chart, traders may find entries on every pullback inside the April 18 bull bar. The immediate support level is at $235, and the middle BB—that is, the 20-day moving average. A close above $270—April 18 highs—may see XMR glide to $300—or better in a bear trend continuation pattern.
What to Expect from XMR?
Buyers have the upper hand as per the formation in the daily chart. As long as prices are trading above the flexible support, XMR could easily rally to $300.