The crypto market has been reflecting hasty improvement since yesterday. The currencies are raving on the chart and breaking records. The impressive movement has impressed the traders, and they are eyeing for a beneficial closing of the first quarter.
Monero’s price movement on today’s chart was sluggish at the beginning. Later hours experienced recovery, and the same is likely to strengthen in the impending hours. From yesterday, XMR coin began the day at $37 and ended today around $41. As per Monero Price Forecast, the traders planning to dig-in the currency are recommended to go for long-term investment. The same would bring a colossal return to the traders.
Monero Price Analysis
Yesterday, Monero price started dealing at $37.54, and within the next 3 hours, the price slipped to $36.17. The currency started the improvement, and around 08:30 UTC, the coin touched $37.79. The price plunged to $37.50 at 09:11 UTC, but further, the XMR price escalated to $39.18 by 4.47% in the next 3 hours. The following hours locked the price at the same level. Then, Monero’s price improved to $42.44 by a massive hike of 11.12% at 16:25 UTC. The currency slipped but recovered again to $42.44 at 18:00 UTC.
Further, the XMR price dribbled to $41.77 in the next five hours and closed the day. The overall intraday movement marked a 9.44% progression. Today, the currency started with a slight upsurge, and within the first 20 mins, the price was at $41.71. However, later, in the next 4 hours, the Monero coin touched $40.66 by 2.65% fall. After this moderate fall, the momentum improved in the next 2 hours, and the price touched $41.34. As per the MACD indicator, the MACD line has overlapped the Signal line and formed a bullish crossover.
The current price of the XMR coin is near the immediate resistance level at $43.76. It looks like in the upcoming hours, and the same would be violated. However, if the coin starts to plunge, then the immediate support level is formed around $37.19.
Resistance & Support Levels
R1: $43.76, R2: $46.43 and R3: $50.33
S1: $37.19, S2: $33.29 and S3: $30.62
