XMR Technical Analysis: Wild Buying Spree Aims $250 Breakout

XMR coin price shows a remarkably solid uptrend as the buying pressure grows in the reversal rally that started from the $145 mark. Key technical points: XMR prices have increased by 4.69% in the past 24 hours. In addition, the prices retest the 200-day EMA. Finally, the 24-hour trading volume of Monero is $191 Million, marking a 67% rise. Past Performance of XMR XMR coin price action displays a remarkable reversal rally in the daily chart starting from the $145 mark and forms a support trendline. The uptrend breaks above the $225 mark thanks to the solid ascending trendline providing multiple reversal spots. Hence, the newly started uptrend promises a breakout of $250. Source-Tradingview XMR Technical Analysis XMR coin price shows a resistance trendline breakout as the uptrend grows and crashes multiple resistances. Moreover, the lower price rejection evident by the long tail formations near the support trendline reflects solid underlying bullishness. The crucial daily EMAs (50, 100, and 200-days) promote bullish reversal resulting in the 50-day EMA on the verge of outperforming the 100-day EMA. Moreover, the recent post-retest reversal from the 200-day EMA enables bullish continuation. RSI Indicator: The RSI slope shows a bullish trend in continuation in the nearly overbought zone with the support of the 14-day average line. However, a weak bearish divergence indicates the possibility of trendline fallout and consolidation n...