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Monero Price Analysis: XMR Price Retreats To $154.95  As Bears Retake The Lead

Published 01/07/2023, 05:05 AM
Updated 01/07/2023, 05:30 AM
© Reuters. Monero Price Analysis: XMR Price Retreats To $154.95  As Bears Retake The Lead
XMR/USD
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  • Monero price analysis is bearish today as price declines by over 0.53 percent.

  • XMR/USD continued sideways overnight at $154.95, further decline is expected in the near future.

  • Buying pressure still fails to return as bears take control of the market and pushes price down to $154.95 at the time of writing.

Monero price analysis shows that the XMR/USD pair is currently in a bearish trend. The market has been in a downtrend since the beginning of today. Although yesterday was bullish, the bears have managed to take control of the market and push the price down to $154.95. Therefore,XMR/USD is ready to decline further and push back toward the $150.87 support. Resistance for the Monero price analysis is set at $152.80, and support is found at $156.64, either of which can be broken depending on the market movements.

The one day Monero price analysis shows that the XMR/USD pair is currently in a bearish trend. It seems that the market has been losing momentum for the past 24 hours. The XMR/USD pair is currently trading at $154.95 after hitting highs of $156.80 and lows of $152.80, respectively. The market has been on a downtrend as it lost around 0.53% of its value today. The XMR/USD pair is currently in a bearish trend as market sentiment remains negative.

The post Monero Price Analysis: XMR Price Retreats To $154.95 As Bears Retake The Lead appeared first on Coin Edition.

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