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- The Monero crypto price has managed to defend the key moving averages till now.
- The XMR price has triggered a breakout from the flag and pole pattern, which is a bullish sign.
Since July 2022, the Monero (XMR) price has been struggling below the $180 hurdle while the buyers have managed to defend the $100 mark. The Monero price prediction suggests a bounce-back after taking support on the key moving averages.
The XMR crypto price attempted multiple times to overcome the $180 mark but couldn’t. The price has shown strength from the first week of February and has risen by defending the last swing lows.
In the last week of August, the digital asset price faced resistance from the major resistance level and showed weakness. However, the buyers are interested and heading for the $180 hurdle. The XMR price has smashed the 200-day EMA, indicating the buyers’ interest.
Monero Crypto Price Overview
At press time, the Monero crypto was being traded at $164.97. It has risen by 2.01% in the past 24 hours. The market capitalization was $3.01 Billion, and the 24-hour trading volume was $60.96 Million.
XMR Price Performance
Based on the Monero price performance, the price has remained almost neutral in the past 2 years.
It dropped by 2.35% in a week but rose by 4.49% last month. In a broader time frame, the price has remained slightly bullish. It has been increased by 12.62% in the past 6 months while 16.01% in a year.
XMR is Bullish in Bearish Phase; What’s Next?
Kimz (@SpyMk2124) has tweeted that the XMR crypto holding is strong. On this bloody morning, the Monero crypto price has remained bullish. It has a strong holding, and the technical chart favors bullish momentum.
Bloody Morning$AKT and $XMR holding strong? lol
— Kimz (@SpyMk2124) August 30, 2024
GM pic.twitter.com/I4FNHBswFy
XMR Price Triggered a Breakout From Flag and Pole Pattern
Based on the technical chart, the Monero crypto price has witnessed a breakout from the Flag and Pole pattern. After the breakout, the price came for the retest, and it almost succeeded.
Suppose the digital asset price manages to sustain over the key moving averages; it might be a bullish signal. Assuming the price traded over the $180 hurdle with good volume, it may extend to the $200 mark in a week. It can keep surging ahead.
Conversely, if the sellers drag the price below the 200-day moving average, it may be a selling signal. On a daily time frame, the price has been rising by taking support on the trendline. Suppose the price triggers a breakdown from the trendline, and profit booking on a higher level can be expected.
Regarding technical indicators, the Monero crypto price has surpassed the key moving averages, showcasing the bullish forecast. The MACD and the Signal line have exceeded the Zero line, and the histograms have flipped to green.
Monero Price Analysis and Forecast
The XMR price has shown bullishness on the ascending trendline and has smashed the key moving averages. As per the chart structure, the Monero crypto price has failed to exceed the $180 mark for the past 2 years.
The Monero price prediction demonstrates the bullish forecast based on the technical chart. The price has been inclining by supporting an ascending trendline and reaching the primary resistance zone.
Technical Levels
The XMR crypto price is expected to face resistance from the $165 and $180 levels. It may take support at the $145 and $115 mark.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
