Monero is trading upwards after facing rejection from the previous highs with the current price of $216. In a period of a month, the XMR coin price had ascended 63% from its support zone. In the January end to February period, there was an existence of bullish divergence between the price and the RSI indicator, and the price even closed above the peak of the divergence.
Thereafter, with the formation of consolidated candles, the price began to uplift as the bulls pushed the price upside. The statistic that the coin is moving at an uptrend pattern can be an occasion for the bulls as the recognition of the coin has not been too much affected by the Ukrainian-Russian war, whereby a lot of other coins have seen a fall.
The XMR coin is in a strong uptrend movement while breaking the downtrend line, and the formation of bullish candles with the divergence is an opportunity for the investors. Though the coin was declining till the February end, the coin recovered in March and formed higher highs. The super trend indicator shows the coin is already in a bullish zone, and the coin has ascended 60% from then. Check out the Monero price prediction to know the possible future price levels of XMR coin for the upcoming years.
The price moves at the edges of the upper bands and is in its overbought zone. The MACD line being above the signal line and the histogram chart showing green candles had been a bullish opportunity, but the coin has been indicating a bullish signal from the last month. Once the coin closes above the high of $239, it may further lead towards $255. The investors can look for a long-term bullish perspective as the coin moves in an up-trend pattern.
