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Bears are back in the game at the end of the week, according to CoinMarketCap.
XMR/USD
Monero (XMR) is the exception to the rule, rising by 1.23% over the last day.
On the hourly chart, the price of XMR keeps looking bullish. If the breakout of the local resistance happens, the accumulated energy might be enough for a test of the $750 mark tomorrow.
On the bigger time frame, the situation is less bullish. The rate of XMR has once again bounced off the support at $666.
As the price is far from the main levels, there consolidation in the narrow range of $680-$700 is the more likely scenario until the end of the week.
From the mid-term point of view, one should focus on the weekly bar closure in terms of its peak. If the bar closes with a long wick, bears may seize the initiative which may lead to a correction to the $600-$650 zone by the end of the month.
XMR is trading at $716.52 at press time.
Denys Serhiichuk
Alex Dovbnya
Tomiwabold Olajide
Gamza Khanzadaev