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

Technical Analysis for XMRUSD for 15th March 2022

Monero in a Bullish Breakout Pattern, Surges 14% Week-to-Date

Past Performance of XMR

Monero prices may be stable in the last trading day but up 14 percent in the previous trading week, gaining versus the USDT. Notably, XMR is within a bullish breakout pattern, and XMRUSDT prices are still defined inside the March 8 bullish engulfing bar.

Monero Technical Analysis

The XMRUSDT price is within a bullish breakout pattern, as visible in the daily chart. Since prices are still within the March 8 breakout bar, every low above $155 could offer entries for aggressive traders targeting January 2022 highs of $250. Conversely, suppose XMR prices slip below $150 with equally high trading volumes. In that case, the coin may sink to $145 in a bear trend continuation pattern.

What to Expect of XMR

The short-term trend is set for Monero following the spike on March 8 above $190. Unless there is an unexpected sell-off below $155, buyers have the upper hand per the candlestick arrangement in the daily chart.

Resistance level to watch: $250

Support level to watch: $155

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