Monero: Price Analysis, October 24


Monero has reached the 50-day SMA, which might act as a resistance. If the bulls break out of $112.5, the probability of a rise to $128.65 increases.


If the XMR/USD pair turns down from the 50-day SMA, it can slide to $100. The moving averages are flat and the RSI is close to the neutral territory. This shows equilibrium between the buyers and sellers.

If the bulls break out of the current range of $100.453–$128.65, the rally can extend to $150, which might act as a stiff resistance. A break down of $100 can plunge the pair to $81. We don’t find any buy setups, and are thus not recommending any trades on the pair.

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