Monero (XMR) Aims to Reclaim $100 After Breakout

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In Brief
  • XMR has broken out from the $88 resistance area and a descending resistance line. The next resistance is found at $126.

  • Daily technical indicators are bullish.

  • XMR/BTC is expected to move towards ₿0.014.

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The Monero (XMR) price has broken out from a long-term resistance area and validated it as support and is expected to continue moving upwards towards $125. At the beginning of August, XMR broke out from a descending resistance line that had been in place for over a year. Afterward, the price broke out above the March highs at $88 and validated the area as support after. The next
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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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