MONERO ANALYSIS XMR/USDT Monero (XMR) broke above the $268.60 resistance on April 10, indicating the possible resumption of the uptrend. If the bulls can sustain the breakout, the altcoin could rally to the next target objective at $334 and then $384. The rising 20-day EMA ($258) and the RSI above 75 suggest the path of least resistance is to the upside. However, if the bulls fail to sustain the price above $288.60, the XMR/USDT pair could drop to the 20-day EMA. A strong bounce off this support will suggest the sentiment remains positive and the bulls are buying on dips. The bulls will then make one more attempt to resume the uptrend. On the other hand, if the bears sink the price below the 20-day EMA, it will suggest a possible change in sentiment. That could result in a drop to the 50-day SMA ($232). The 4-hour chart shows the bears attempted to stall the rally near the psychological resistance at $300 but the bulls did not give up much ground. They purchased the dip to the 20-EMA and pushed the price above $300. The rising moving averages and the RSI near the overbought zone suggest the bulls are in control. This positive view will invalidate if the price turns down and breaks below the moving averages. Such a move will indicate the demand has dried up and traders are booking profits. That could pull the price down to $250. Let's keep pumping the market guys Guys Stay Bullish, Stay Humble, Stay Put #monerocoinbase #monero #monerocoin #monerocoinmining #xmr https://www.instagram.com/p/CNkCLbxAuw5/?igshid=apapkmvqwztt
