• On June 20,the bulls broke the $98 overhead resistance to reach a high of $116 price level.
• On the upside, if the bulls defend these zones, the XMR market will rise and reach the $125 price level .

XMR /USD Medium-term Trend: Bullish

• Resistance Levels: $120, $122, $124
• Support Levels: $114, $112, $110

Last week the price of Monero was in a sideways trend. The crypto had been trading below the $98 overhead resistance. In the last one month, the bulls failed to break the $98 overhead resistance. On June 19, the crypto’s price was making a series of higher highs and higher lows. On June 20,the bulls broke the $98 overhead resistance to reach a high of $116 price level.

The crypto’s price is likely to face resistance at the $120 price level. From the Fibonacci tool, the crypto’s price is in the 0.236 (23.6%) Fib.retracement level. The XMR market is likely to rise in the continuation zones of the 0.236 and 0.382 Fib. retracement levels.

On the upside, if the bulls defend these zones, the XMR market will rise and reach the $125 price level. The price of Monero is in the overbought region of the daily stochastic but above 80% range. This indicates that price is in a bullish momentum and a buy signal.

XMR/USD Short-term Trend: Ranging

On the 1-hour chart, the price of XMR is trading below the $120 resistance level. On June 21 and 23, the bulls tested the $120 price level and were resisted. The price fell below the EMAs but the bulls pulled back price above the EMAs. 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.

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