Monero Trend May Be Changing as Price Just Breached Above Its 20 Day Moving Average

The Hourly View for Monero

  • At the time of this writing, XMR’s price is down $-3.58 (-1.37%) from the hour prior.
  • Monero has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe.
  • The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Monero’s hourly price chart is shown below.

XMR

The Daily View for Monero

  • Currently, XMR’s price is down $-17.16 (-6.25%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved up.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 20 day moving average has been crossed, so that price is now turning below it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Below is a daily price chart of Monero.

XMR

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