A few days ago, Monero went live with its <a href="https://www.cryptoknowmics.com/news/monero-announces-bitcoin-atomic-swaps-are-live-on-mainnet/">atomic swap</a> between Bitcoin and XMR. Atomic swaps allow users to exchange their cryptos without involving third parties in a completely decentralized manner. It has already been the leading "privacy coin" in the crypto-space, but Monero has now become a little more private. Let us look at the technical analysis of XMR.
<h2><b>Past Performance
</b></h2>
In the last 24 hours, there is an upsurge of 0.46% in the price. In the <a href="https://www.cryptoknowmics.com/news/xmr-technical-analysis-the-market-requires-local-correction/">last seven days</a>, the price witnessed an upsurge of approximately 17%. On the 23rd of August, it reached its all-time high of $333.78 in the month of August.

<img class="tv-snapshot-image" src="https://s3.tradingview.com/snapshots/n/NkWwrcQh.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/NkWwrcQh/">https://www.tradingview.com/x/NkWwrcQh/</a>
<h2><b>XMR Technical Analysis</b></h2>
After the support of the mark 50.75%, the RSI is shooting up and the buying pressures are high. Currently, we can see the RSI is in its overbought region at the mark of 71.95%. Though we can see a slight dip in the <strong>RSI,</strong> which could be because the selling pressures are also high. We can wait and watch the market for any trend reversal.

<strong>MACD and EMA lines</strong> are above the zero range, indicating a positive market and suggesting a buy on XMR. There is a bullish crossover on the chart, suggesting that buying pressures are overtaking the market.

On the daily chart, the <strong>OBV</strong> is slightly upward sloping.

The current price is below the pivot point of $318.45.<i></i> The resistance retracement is formed at $330.11. At the current price, the traders have an excellent opportunity to go long upto the resistance level. At the resistance level, the price will be tested and might face rejection. If it resists the rejection, it might break up.

However, the support level is formed at $306.80, at this level, the price will try to take support and bounce back.
<h2><b>Day-Ahead and Tomorrow</b></h2>
The XMR market seems bullish for today, and we can expect a further increase in the buying pressures. This is the right time for the traders to go long.

We could expect a bullish trend for tomorrow as well.

XMR Technical Analysis: Price Below the Pivot Point of $318.45, Resistance Retracement at $330.11

XMR market seems bullish for today, we can expect a further increase in the buying pressures. This is the right time for the traders to go long on Monero. We could expect a bullish trend for tomorrow as well.

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.

XMR Technical Analysis: Price Below the Pivot Point of $318.45, Resistance Retracement at $330.11

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