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Monero price analysis: This bounce has more upside, but pressures exist on the upside

FX Street
Updated:
  • XMR up on day while others trade mixed.
  • More upside left before it faces selling pressure again.

Monero prices are trading in the green on the day when all the other major cryptos are barely holding up. Although, XMR still has some more room on the upside, but it won’t be too long before bulls’ face off with bears again.

XMR/USD up about a percent on day at $141.33 and trading in less than 3 percent range for the day. On the daily charts, Monero has found some momentum to rally back up, but this rally won’t take it too far, not even beyond $155-160 range, where it finds resistance in the form of descending trendline drawn from its all time high of $477.

Immediate resistance for now is placed at $147, while support is placed at $135.

XMR/USD daily chart:

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