Main highlights
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Monero XMR fell 4.13% on Monday. Monero XMR reversed its 2.77% gain from Sunday to end the day at $64.02.
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At a late morning intraday high of $66.97, Monero’s XMR fell below the first major resistance level at $68.14.
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Monero’s XMR hit an intraday low of $63.55 and fell below the first major support level of the day at $64.89.
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The long-term bearish trend that formed with the swing to $298 in late April remains firmly in place. Monero’s XMR remains well below its 23.6% FIB of $99 for 2015.th The swing low for December is $37.18.
How to buy XMR on Monero
XMR price support for Monero
Monero XMR fell 4.13% on Monday. Monero XMR reversed its 2.77% gain from Sunday to end the day at $64.02.
After a relatively range-bound morning, Monero's XMR rose to a late morning intraday high of $66.97 before reversing.
Breaking below the first major resistance level at $68.14, Monero’s XMR fell to an intraday low of $63.55.
This reversal caused Monero’s XMR to break through the first major support level at $64.89 before stabilizing. The temporary recovery to $64.81 was short-lived later in the day, with Monero’s XMR remaining below the first major support level by the end of the day.
Monero’s XMR remains firmly in the long-term bearish trend that formed during the swing to $298 in late April. Monero’s XMR remains well below the 23.6% FIB retracement level of $99 for 2015.th The swing low for December is $37.18.
At the time of writing, Monero XMR was up 0.36% to $64.25. In early action, Monero's XMR rose from a morning low of $63.67 to a high of $64.59 before falling back. Monero’s XMR left major support and resistance levels untested in the early stages.
For the day ahead,
A rise to the $64.85 level would force Monero XMR to remain at the first major resistance level at $66.14. However, support from the broader market will be needed for Monero’s XMR to break above the $64 level. Absent a broad-based crypto rally, Monero’s XMR is unlikely to reach the $66 level on this day.
If Monero’s XMR fails to reach the $64.85 level, it could slip back into the red. A fall to the morning low of $63.67 will send the price to the $62 level before recovering. Barring a crypto meltdown, the first major support level at $62.72 is likely to limit the downside for the day.
In the event of a widespread decline, Monero’s XMR could reach levels below $61 before recovering.
Take a look at technical indicators
Major support level: $62.67
Major resistance level: $66.14
23.6% FIB Retracement Level: $99
38.2% FIB Retracement Level: $137
62% FIB Retracement Level: $198
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Thank you, Bob
This article was originally posted on FX Empire
