![Monero [XMR] flips $144 to support, but the move past $150 seems far-fetched](https://i.headtopics.com/images/2022/10/5/cryptoamb/monero-xmr-flips-144-to-support-but-the-move-past--monero-xmr-flips-144-to-support-but-the-move-past--1577668730166845441.webp)
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Monero trading within a short-term range Despite a strong rally, a breakout above $150 might be unlikely Bitcoin [BTC] was able to clear the $19.6k resistance level on 4 October, and at press time the […]
rallied 8.5% measured from the swing low on 3 October to the swing high registered a few hours ago. Lower timeframe traders were bullishly positioned, and a move to the $150 resistance could soon appear.Since mid-September, XMR has traded within a range . The mid-point at $144.3 served as a solid support and resistance level in the same time period. This reinforced the credibility of the range plotted here.
XMR was unable to rise past $148 in recent hours. The Relative Strength Index also nosedived toward the neutral 50 mark. However, the momentum and the lower timeframe market structure remained bullish. Further price gains in the form of a move to $150-$153 seemed likely.
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