Monero (XMR) Long Term Price Analysis – January 8
- The crypto had not been able to break the resistance at $55 price level.
- If bulls break the resistance at $55, the crypto will reach the previous high of $80.
XMR/USD Long-term Trend: Bullish
On December 14, the price of Monero was in a bearish trend. The price fell to a low of $39.37 which was the lowest price level during the bearish trend in the month of December 2018.However, the crypto traded and ended the year 2018 at a price of $ 47.17. On January 1, the price of Monero had an opening balance of $ 47.17. The crypto' s price was in the bearish trend zone as the bulls took price above the 12-day EMA and the 26-day.
Monero Chart By Trading ViewNow the price of Monero is in the bullish trend zone. The crypto's price is likely to rise because the price is above the EMAs. However, the crypto's price is facing resistance at the $55 price level. Since on December 21, the crypto had not been able to break the $55 price level. If the bulls break the resistance at $55, the crypto will reach the previous high of $80.
Meanwhile, the stochastic is approaching the overbought region but it is above the 60% range. This indicates that the price of Monero is in a bullish momentum and a buy signal.
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