Technical Analysis for XMRUSDT for 16th November 2021
Monero capped in a $50 Zone, XMRUSDT Bulls Struggling

Past Performance of XMR
Overall, this is an indicator of strength, giving Monero buyers a chance as the crypto market cools off after a stellar performance in Q3 2021.
What to Expect of XMR
Technically, Monero buyers have the upper hand as long as XMR/USDT prices trend above the multi-week support at $250.
Presently, prices are within a $50 zone as XMR bulls soak selling pressure.
An eventual breakout above $300 may light up demand, lifting the coin to $340 and later $500 in a buy trend continuation pattern. Meanwhile, losses below $250 may force XMR even lower.
Monero Technical Analysis
If BTC prices drop, the odds of XMR printing lower lows due to the correlation will be high.
However, a market-wide recovery could see the accumulation provide the ammunition for XMR bulls targeting H2 2021 highs of $340.
In turn, this may provide the base for another leg up for a 75 percent surge to $500—2021 highs in a welcomed buy trend continuation pattern.
However, losses below $250 mirroring the flash crash of the early Asian session might see Monero crack.
Resistance level to watch: $300
Support level to watch: $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!
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.