- The positive signal appearing on Monero’s three-day chart shows declining sell orders which may lead to a market recovery.
- XMR requires trading pressure to overcome $220 to $230 resistance points while maintaining position above the essential support range of $200 to $205 to maintain bullish price action.
- The expansion of trading range along with rising volume points to accumulating investor interests which may lead to a breakthrough if the momentum remains strong.
Monero today trading volume is $ 121.74M with a market cap of $ 4.02B, and market dominance of 0.14%. The XMR price experienced a 3.74% upward movement throughout the previous 24-hour period and demonstrated a 2.7% improvement against Bitcoin (BTC) which validates its position within the market. XMR prices exhibited medium market volatility based on their 24-hour price span from $209.60 to $226.36.
According to analyst Ali, Monero’s (XMR) price movement has highlighted a crucial development in its technical indicators. The TD Sequential indicator,has flashed a buy signal on Monero’s three-day chart. This signal comes after the indicator accurately identified the recent price peak, suggesting a potential shift in market momentum.In Monero’s case, the buy signal on the three-day chart indicates that selling pressure may be subsiding, and a price rebound could follow.
Market Context and Recent Performance
Monero has been experiencing a downward trend, with recent price action showing consecutive bearish candles. At the time of analysis the cryptocurrency maintained a trading price of $210.25 while support levels came under recent pressure. The ongoing downward trend might receive potential buy-side interest from market participants through the formation of a TD Sequential buy signal while they anticipate a momentum reversal.
Monero’s price movement suggests a bullish trend, with steady gains reinforcing positive momentum. The increase in price and trading range expansion indicates growing investor interest and potential accumulation. If Monero maintains this momentum, it could attempt to break higher resistance levels beyond $230.
Potential Implications for Monero’s Price
A validated TD Sequential buy signal could trigger either consolidation or price increase for Monero. The essential resistance points to monitor are $220 and $230 while the support area spans from $200 to $205. A continuous rise above resistance can strengthen bullish expectations but every failure to protect key support points might lengthen existing downward price trends. If the overall market strengthens, XMR could see additional support for a recovery.
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