Monero price analysis: Bulls struggling to keep price securely above $307

TL;DR Breakdown

• The Monero price analysis shows an increase in price today.
• Price value has improved up to $307.44.
• Strong support at $299 giving edge to the bulls.

The Monero price analysis is displaying bullish signs, as the coin value has undergone a significant recovery in the last hour. The price has increased up to $307.44, which is a great sign for the buyers to invest their money.

The price levels are expected to rise even further, as the short-term trending line is covering its path in an upward movement. The bulls have kept strong despite the bearish retries in the past few hours to lower the cryptocurrency value.

XMR/USD 1-day price chart: Price rise today as bulls cover $307 range

The 1-day Monero price analysis chart is showing the cryptocurrency report is going bullish for the day. The price levels have reached the $307 height, which is major progress after the ongoing bearish momentum in the past few days.

The price is advancing high, and it has even reached above the moving average value (MA) which is at $298. Furthermore. the Bollinger bands indicator is showing us an average of $294, with a relatively increasing volatility.

The other values related to Bollinger bands are as such; the upper Bollinger band has reached the $331 height, whereas the lower Bollinger band has reached $257 of height. The RSI score is also on the rise considering the ongoing bullish trend, and it has increased up to 60 in the last 24-hours.

Monero price analysis: Bulls gear up to power through $310 resistance

The 4-hours Monero price analysis is showing a rise in the price, as the green candlesticks are advancing on the price charts. The gain has been considerable as the price has reached $307.44, undergoing a commendable recovery.

The landmark proves significant if compared to the overall cryptocurrency progress observed throughout the day. Furthermore, the moving average value in the 4-hours price chart is at $305, while the Bollinger bands average at $305.

Moving on, the upper value of the Bollinger bands is set at $301.15, while its lower value is at $299, as the volatility is gradually decreasing. The RSI score is reaching new heights as well, and currently, it is showing the score at 57.

The following XMR/USD technical indicators chart is giving out a bullish signal, as the trends have been in favor of the buyers today. The summary is telling us that there are a total of 14 indicators settled at the buying position, 10 at the neutral, and only two indicators are there at the selling position.

The Moving Averages indicator is also going strong for the bulls, as there has been bullish activity observed in the past few days. There are 13 indicators that are present at the buying position, and one indicator each is sitting at the selling and neutral places respectively.

As there has been strong pressure from both the market competitors, the Oscillators are giving a neutral signal for the day. There are 9 oscillators resting at the neutral position, while one oscillator each is found at the selling and buying positions.

Monero price analysis conclusion

The above 1-day and 4-hours Monero price analysis is indicating a bullish signal for the day as the buyers have taken the price levels above the $307 height. Further momentum is to be expected from the bullish side, as the trending line is also in the favor of the bulls.

The support at $299 is also quite strong for the cryptocurrency to keep on traveling in the upwards direction. Despite the bears attempting to take over the price chart again, the bulls have surprised us by establishing a new mark at $307.44.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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