Monero (XMR) Long Term Price Analysis – December 11
- The price of Monero is still under the bearish trend zone.
- Monero is likely to find support at $40 price level.
XMR/USD Long-term Trend: Bearish
The XMRUSD pair is still in a downward trend. The price of Monero closed trading in November 30 at a price of $53.63 .The crypto is currently approaching the low of $44. From the price action, the crypto's price is below the 12-day EMA and the 26-day EMA indicating that the price is likely to fall.
On August 6, the crypto's price fell to the low of $92.97 and commenced a range bound movement.The crypto fluctuated above the $92 price level for three months before it encountered another bearish breakout. On November 12, the price of Monero was resisted by the 12-day EMA and it fell to the low of $44 as at the time of writing.
Monero Chart By Trading ViewMeanwhile, the price of Monero is below the 12-day EMA and the 26-day EMA which indicates that the price is likely to fall. The Stochastic indicator is in the oversold region and the price has fallen below 20% range. This indicates that the price of Monero has a strong bearish momentum and a sell signal. Monero is likely to find support at the $40 price level.
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