As the whole crypto market is marching towards the recovery, Monero has managed to show marginal growth over the last 24 hours. Its current value roams around $36. In the last month, on February 27, the XMR coin was at a high of $70 but continued to trade under the declining channel.
Monero Price Analysis
Monero opened the day at $36.36, and in the next 4 hours and 23 minutes, it got beefed up by 2.85% and touched $37.39. However, after hitting above $37, the coin faced rejection and started a price correction to the extent of 8.87% that cost $3.32 and took the XMR price to the lowest point of the day at $34. From this low, it marked strong recovery and managed a hike of 10.93% to reach $37.85 today. Later, the momentum got pacified, and its value got narrowed down by 4.56% and got confined to $36.10.
At the time of writing this analysis, XMR coin was trading at $36.64, having support from both the short-term moving averages, namely, 20 days & 50 days. As per MACD Indicator, there may not be any significant bullish movement in the coming few hours. However, as per the XMR coin price prediction and current momentum, the Monero coin may cross its next resistance point around $36.94.
| Monero (XMR) | Resistance and Support Levels |
| 1st Resistance | $36.94 |
| 2nd Resistance | $37.97 |
| 3rd Resistance | $39.29 |
| 1st Support | $34.59 |
| 2nd Support | $33.27 |
| 3rd Support | $32.24 |