This website uses cookies to ensure you get the best experience on our website

Technical Analysis for XMRUSD for 7th October 2021

Monero Snaps Back on XMR-BTC Atomic Swap Interface, Back to $320?

The first XMR-BTC Atomic Swap interface is now live. This allows for trustless trading of XMR and BTC.

Past Performance of Monero

Monero prices are solid, rising with the rising Bitcoin tide. 

At the time of writing, XMR is up seven percent on the last trading day. 

As momentum builds up, Monero prices may rally back to recent highs of $320, continuing the July and August 2021 trend.

What to Expect of Monero

The direct correlation between Bitcoin and Monero might benefit XMR. 

Already, the coin is up double digits on the last trading day, reversing losses of late September. 

In this case, the probability of XMR prices expanding to $320 remains high. 

On the flip side, unexpected rejection of higher prices may see XMR crumble to $250—the middle BB.

Monero Technical Analysis

Monero is trading within a bullish breakout pattern, reading from the XMR technical analysis in the daily chart. 

Notably, XMR prices are trending higher, with rising trading volumes pointing to possible demand in lower time frames. 

Besides, XMR/USDT is within a bullish breakout pattern above the middle BB, reversing from the 78.6 percent Fibonacci retracement level of the July to August 2021 range.

Therefore, in light of this, XMR prices could continue rising with immediate targets at $320.

Resistance and Bull Target to Watch Out: $320

Support level to watch out: $250

Disclaimer: Opinions expressed are not investment advice. Do your research.

For more interesting tips and facts visit our Education Centre.

Have Questions? 

We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020