Monero Price Analysis: XMR/USD recovers Thursday’s losses and climbs towards $70-level

• XMR/USD bulls recovered Thursday’s losses this Friday.
• The market broke past the SMA 20 curve.

Monero, one of the premier privacy coins in the world, experienced a bullish Friday, where it went up from $66 to $69.35, charting a 5.08% increase. During the day, the bulls took XMR/USD up to $68 before the bears corrected the price to $67. Following that, the bulls took back full control shot the price back up to $69.35. The bulls will need to garner enough momentum to breach the $70-level. In the process, they recovered this Thursday’s losses wherein XMR/USD went down from $68.65 to $66.

XMR/USD 4-Hour Chart

XMR/USD Daily Chart

• The XMR/USD market broke past the resistance offered by the 20-day simple moving average (SMA 20) curve.
• The market is trending above the SMA 200 and SMA 50 curves.
• The relative strength index (RSI) indicator is trending at 58.75.
• The signal line diverged away from the MACD line showing bullish momentum.
• The Elliot wave oscillator shows a bullish session following two consecutive bearish sessions.