Price Prediction

Monero Price Analysis: Will XMR Price Shoot $164 Soon?

  • The price of XMR is trading at $143.93.
  • The XMR price increased by +1.49% in the last 24 hours.
  • The XMR year-to-date return is +22.71%.

Weekly Trend Analyzation

This week the trend was bullish as the price was up by 4.88%. By trend and price information history, we can say that XMR is performing well. 

All-Time History Analyzation

The coin’s value surged by more than 1700% in all-time history, giving good returns to the investors’ money. 

In 1-D Timeframe

Monero Price Analysis
Source:  XMR/USD.1D.BITFINEX by TradingView

Trendline Analyzation

As per the trendline, it respects support and faces rejection very well, taking exactly from the drawn trendline on the chart. It was bearish before from the point where it was rejected from the trendline. But recently it formed a most commonly seen bullish pattern known as descending wedge. In this pattern, the price gives an upward breakout. So, as price action speaks, it already took support on the trendline soon and it might give a breakout in a couple of days. After that it will face correction and then another possible breakout can occur in the long term. It can reach $164 soon which is the nearest major resistance.  


With the help of just two parameters: period and multiplier, this indicator works well. At period value 20 and multiplier value 2, it shows the continuous trend if it’s bullish or bearish. As shown in the chart, it’s bullish.


As we can see in the chart, the blue line or MACD line crossed the signal line from below while making a bullish crossover. This indicates a bullish trend signal. This highlights that the trend may continue upward.


The price is going up on the 1D chart. It is above the 10, 20 & 30 EMA (exponential moving average), which is supporting the trend upwards. The buyers are stronger than the sellers which shows buyers are ready to buy at every price. To change the direction, the price has to go down and stay below the 10, 20 & 30 EMA. Also, the price stayed above EMA’s which gives quite an idea that buyers are ready to buy stock at every price which is a good sign as well.

Bollinger Band

In the Bollinger Band indicator, Ethereum Classic coin price is trading at the upper band. After taking support from the 20-day Simple Moving Average (SMA) of the Bollinger Bands, it is indicating a more upward move.

Bollinger Band
Source: XMR/USD.1D.BITFINEX by Trading View

Volume Analyzation

The amount of XMR traded in a day is $82794827. It rose by 27.84% since the last day. The trading activity is comparatively good in XMR now because the market is favorable and the presence of buyers for the coin increased significantly as well. Therefore, it can push the price up due to the considerable volume present in the market. 


The XMR coin price as per the price action is bullish. Currently, the technical parameters indicate bullish pressure in the upcoming trading days. Presently, the sentiments of investors and traders are bullish.

Technical Levels:

  • The Nearest Support Zone is $164.
  • The Nearest Resistance Zone is $131.


In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

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