Monero Price Prediction Today: Daily (XMR) Value Forecast – June 10
- In retrospect, the market had earlier reached the $98 overhead resistance on May 27.
- The XMR market is currently trading between the levels $82 and $90.
XMR /USD Medium-term Trend: Ranging
- Resistance Levels: $96, $98, $100
- Support Levels: $84, $92, $90
Last week the price of Monero was in a bearish trend. On June 3, the bulls tested the $96 resistance level and were resisted. The XMR market fell and was in a downward correction. In retrospect, the market had earlier reached the $98 overhead resistance on May 27. The bulls were unable to break the $98 overhead resistance level as the bears took control of price. The downtrend of June 3 was corrected at the $82 price level.
This was the previous low of May 23. The $82 support level was holding as the bulls made a bullish move above the EMAs. The bulls could not sustain the price above the EMAs because of the resistance at the $90 price level. The XMR market fell from the recent $90 resistance level to the $82 support level. On the upside, if the $82 support level is holding, the bulls are likely to break the EMAs and retest the resistance levels.
XMR/USD Short-term Trend: Ranging
On the 1-hour chart, the price of XMR is in a sideways trend. The XMR market is currently trading between the levels $82 and $90. The 12-day EMA and the 26-day EMA are sloping horizontally. On June 7, the bulls tested the upper price range and price made a downward correction to the lower price range. The price of Monero is in the oversold region of the daily stochastic but above 40% range. This indicates that price is in a bullish momentum and a buy signal.
Live Monero (XMR) Price:
1 XMR/USD =$217.5476 change ~ 9.36%
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