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  • Monero is trading 2% higher on the session while the crypto majors have fallen.
  • The price has just dipped under 60.00 but looks like forming a base.

XMR/USD Daily Chart

XMR/USD is forming a clear base between 51.16 and 67.10. The fact that it is holding above lows despite bearishness elsewhere is a positive sign.

These two levels mentioned above will become the major support and resistance levels for the current consolidation period.  

Only once the price has broken either side can we be confident on the future trajectory of the price.

The plus point for the bulls the fact that the wave low is still intact despite all the other cryptos falling today.

The RSI indicator is still holding close to positive territory (above 50) despite the break lower in recent times.

Monero Analysis

Additional Levels