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Monero Price Prediction Today: Daily (XMR) Value Forecast – June 3

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  • The support of $90 price was holding as the bulls made an upward move above the EMAs.
  • On the upside, if the bulls break the overhead resistance, the XMR market will reach the highs of $105 and $110.

XMR /USD Medium-term Trend: Ranging

  • Resistance Levels: $96, $98, $100
  • Support Levels: $94, $92, $90

Last week the price of Monero was in a sideways trend. The price of Monero was trading below the $98 overhead resistance. The bulls have tested the $98 overhead resistance and had failed to break it. Each time the bulls tested the overhead resistance level the price would fall below the 12-day EMA and the 26-day EMA. On May 31, the price of Monero had a downward correction to the support of the $90 price level.

The support of $90 price was holding as the bulls made an upward move above the EMAs. The crypto’s price is above the EMAs which indicate that price is likely to rise. On the upside, if the bulls break the overhead resistance, the XMR market will reach the highs of $105 and $110. On the downside, if the bulls fail to break the overhead resistance the price will fall to the support of the EMAs.

XMR/USD Short-term Trend: Ranging

On the 1-hour chart, the price of XMR is in a sideways trend. The 12-day EMA and the 26-day EMA are trending horizontally indicating a sideways trend. The crypto’s price is fluctuating below and above the EMAs.

On June 2, the bulls tested the $96 price and were resisted. The price fell to the support of the EMAs to resume its range bound move. The price of Monero  is at the oversold region of the daily stochastic but above 20% range. This indicates that price is in a bullish momentum and a buy signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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