Monero (XMR) Exhibits Bullish Movement; Next Resistance Can Be $60

Currently, Monero indicates an uptrend, and it is trading at $56.38. On October 15, 2019, the coin was trading around $53.88 and on the same day, it fell to $51.797 due to bearish influence. Within the next two days, the XMR coin gathered momentum and it was being traded at $60.542 on October 17, 2019. There was a growth of more than 16% marked within 2 days of the fall in price. On the next day, it was being traded above $58 despite bearish pressure. While writing this, the XMR coin has managed to gain some pace, and started to trade upwards.

Monero Price Prediction

Today, Monero reflects an uptrend as it gained almost 5% hike as compared to the price of October 19, 2019. The coin might keep the current upward momentum intact for some time. It may be traded in the range of $55 to $57 today.

As per the present scenario, you can enter in the trade as XMR coins might be able to give considerable returns in the near-term. The Chaikin Money Flow indicator also reflects that Monero is trading with a positive momentum and hence, it is suggested to trade from the long-term as it can breach its 30-day high of $74 in the upcoming months. And for the intraday trading, the following levels should be considered by traders to avoid losses in intraday trading:

Resistance & Support Levels

R1: $57.64, R2: $58.86 and R3: $60.61

S1: $54.67, S2: $52.92 and S3: $51.7