Monero price upward action is capped within the confined of a descending channel. The bulls stamp their feet on the ground ready for action above the short term resistance at $70. Monero (XMR) has not been left behind by the bullish wave traversing the cryptocurrency industry. The gains recorded from the days’ opening at $65.76 have pulled XMR/USD to $68.59 (intraday highs). Meanwhile, after adjusting to $68.13, Monero is still up 3.68% on the day. Monero price technical update The recovery made is yet to match the resistance of a descending channel as observed on the 4-hour chart. However, the bullish action is far from over and according to the technical levels, it could force the price higher, even break the key hurdle at $70.00. If the RSI is taken into account, then bulls are largely in control. Its continued motion above the average would strengthen the bullish momentum in the coming sessions. The MACD, in the same range, is also grinding upwards, almost crossing above the mean line. However, Monero price is still under the moving averages, suggesting that bearish action is present and cannot be ignored. A break above $70.00 is likely to open the door for gains above the stubborn channel resistance. XMR/USD 4-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/JPY: Approaching oversold levels – Westpac FX Street 3 years Monero price upward action is capped within the confined of a descending channel. The bulls stamp their feet on the ground ready for action above the short term resistance at $70. Monero (XMR) has not been left behind by the bullish wave traversing the cryptocurrency industry. The gains recorded from the days’ opening at $65.76 have pulled XMR/USD to $68.59 (intraday highs). Meanwhile, after adjusting to $68.13, Monero is still up 3.68% on the day. Monero price technical update The recovery made is yet to match the resistance of a descending channel as observed on the 4-hour chart. However, the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.