Long
Monero Price Analysis — April 20
Unlike other cryptos, Monero has maintained a steady upward trajectory since its slump to the $132 low in late February. The privacy cryptocurrency has exhibited significant resilience by remaining unmoving during broader market bearish runs but following bullish waves.
That said, XMR tapped its highest level since November 21 on Monday after hitting the $270 mark but recorded a sharp correction to the $250 mark shortly afterward. However, the bearish correction appears to have run its course, as the cryptocurrency rebounded above the $260 mark in the early session on Wednesday.
I expect a retest of the $270 top, where my two-month-long channel top resides, over the coming hours, which should prompt a leg up towards $290.
Meanwhile, my resistance levels are at $270, $280, and $290, and my support levels are at $250, $240, and $230.
Total Market Capitalization: $1.92 trillion
Monero Market Capitalization: $4.7 billion
Monero Dominance: 0.24%
Market Rank: #32
That said, XMR tapped its highest level since November 21 on Monday after hitting the $270 mark but recorded a sharp correction to the $250 mark shortly afterward. However, the bearish correction appears to have run its course, as the cryptocurrency rebounded above the $260 mark in the early session on Wednesday.
I expect a retest of the $270 top, where my two-month-long channel top resides, over the coming hours, which should prompt a leg up towards $290.
Meanwhile, my resistance levels are at $270, $280, and $290, and my support levels are at $250, $240, and $230.
Total Market Capitalization: $1.92 trillion
Monero Market Capitalization: $4.7 billion
Monero Dominance: 0.24%
Market Rank: #32
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.