- XMR’s price outperformed 63% of the top 100 crypto assets.
- The price fluctuations of the Monero token are moderate, indicating that the price is stable.
Technical Charts Monero (XMR) Price A strong breakout above the dynamic level, sustaining above the breakout level, indicating buyer dominance in the token price.
When writing, Monero Token It has a solid market presence with a market share of 0.15% and is the 25th largest token in the global cryptocurrency market with a market capitalization of $3.13 billion.
of Monero Price It has seen a slight drop of 0.39% over the past 24 hours. Following this, the token's trading volume also saw a slight increase of 3.1%, resulting in a value of $46,293,000 and reduced liquidity with a volume/market cap ratio of 1.41%.
Supply inflation is XMR Crypto was also very low at 0.62%, which was one of the most positive factors for the token after its circulating supply of 18.446M XMR.
of Monero Coin Price Sentiment was also bullish, with the Fear and Greed Index at 39, indicating fear among token investors, which has led to the price dropping 71% from its all-time high.
Monero token witnesses fierce tug-of-war between buyers and sellers
At the time of writing, $12.89K worth of longs had been liquidated in the past 24 hours. Short liquidations on the token were also close at $13.45K, indicating price uncertainty.
Additionally, derivatives trading has been sluggish over the past 24 hours, with the token’s derivatives trading volume registering a slight decline of 2.3%, resulting in a trading value of $13.02 million, significantly below the token’s spot trading volume.
A decrease in the token’s open positions was also recorded, with the open balance dropping by 4.6% in the past 24 hours. Furthermore, the open balance stood at $12.97 million, with the token’s long/short ratio at 0.992.
What do technical charts show about price structure?
of XMR Crypto The price has traded above a key level and seems to be trending down for the past few days. Let’s take a closer look at the technical analysis. XMR Price Prediction.
The overall price structure of the XMR token was bullish as it rose to higher levels.
XMR price has seen buying since early February 2024. The price has risen by over 65% from the lows.
Moreover, the latest price action showed the formation of a descending triangle, which the token price also rose above and sustained.
A deeper look at the XMR crypto technical indicator
The 50-day EMA and the 200-day EMA formed a golden crossover on the daily chart. The token price also traded above these EMAs, indicating a strong bullish trend in the price.
XMR/USD chart by TradingView
of XMR Crypto The price also traded above the average true range of the Supertrend 10.3 on the daily chart.
On the daily chart, the MACD line is trading below the signal line. Before considering this as a bearish sign, both indicators are trading on a bullish trajectory. This indicates neutrality in the token price and the histogram formed on the chart was also very small.
The RSI was also trading in a tight range below the 14-day SMA, again indicating price uncertainty.
The Monero token price is likely to face support at the $101.00 and $115.00 levels and resistance at the $182.00 and $200.0 levels.
Disclaimer
This article is for informational purposes only and does not provide financial, investment or other advice. Neither the author nor any person mentioned in this article is responsible for any financial losses that may occur from any investment or trading. Always do your research before making any financial decisions.
