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Monero price analysis: XMR falls to $150 as bulls fail to maintain $165 heights

TL;DR Breakdown

Monero price analysis shows a fall to $150 as bearish pressure rises
The XMR coin has fallen by over 2% at the time of writing.
Monero prices have sought support and resistance at $150 and $160, respectively.
The Monero price analysis for today, August 3, shows that the price action has observed high volatility as XMR crashed to the $150 mark. The price action turned bearish after a rejection at the $165.00 level.

The broader cryptocurrency market observed bearish sentiment over the last 24 hours as most major cryptocurrencies recorded negative price movements. Major players include TON and BNB, recording a 6.85 and a 5.07 percent decline, respectively.

Monero price analysis 1-day chart: XMR returns to $150 as bearish pressure rises

The 24-hour XMR/USD price chart indicates a horizontal trend in the market as prices move toward the $150.00 level. However, the lack of strong momentum on either side may suggest that the consolidation may continue over the next few days.

Technical indicators for XMR/USDT 1-day chart by Tradingview
The Indicators reflect the bearish price sentiment as all three major technical indicators show mixed signs. The MACD is bearish at only -0.080 units, moving deeper in the red region with a low slope, while the EMAs are also at the mean position, and their gradient turns negative as the price declines across the daily charts. The RSI also shares this sentiment as the indicator falls from around the 50.00 index level to the 37.97 mark. The diverging Bollinger Bands suggest higher volatility, indicating that the $150.00 support may not hold for the week.

Monero price analysis 4-hour chart

The 4-hour price chart of Monero shows a 12-day consolidation broken by a rise to the $165.00 mark. The rise was followed immediately by a crash to the $150.00 mark as bears crushed the attempt. Currently, the bears look to go further downwards at $150.

Technical indicators for XMR/USDT 4-hours chart by Tradingview
The RSI is at 36.98 suggesting that the asset is near the bottom of the neutral zone with room for movement for the crypto to fall further. The MACD at -0.49 shows bearish dominance across the 4-hour charts that is increasing with recent candles. The sentiment is further supported by the EMAs that show a sharp downwards slope. These indicators collectively issue a bearish signal at the current price level.

Monero price analysis shows XMR is in a bullish rally from early July. Despite the flash crash a few days ago, the bulls were quick to buy the dip to recover the asset’s price back above the $160.00 mark. The bears have crushed the short-term supports held by the bulls and as the price enters the $150 level, the $160 provides a secure foothold for short-term movements.

As such, trades can expect the bearish rally to continue towards the $140 mark, albeit after a brief consolidation at the $150 level. However, a quick correction may see XMR retrace to $155.00, but movements higher than that are unlikely, given the technical indicators and the market sentiment.

Is Monero a good investment?

Monero is an attractive investment because it emphasizes privacy and security, utilizing advanced cryptographic techniques to ensure transaction confidentiality. Its growing adoption across various use cases and a decentralized development model enhance its long-term potential. With a limited supply and increasing investor interest, Monero offers a unique opportunity for those seeking financial autonomy and privacy to invest in cryptocurrency. However, investors should remain cautious of regulatory risks and market volatility when considering Monero as part of their portfolio.

Why is XMR down?

Monero failed to overcome the $165.00 mark after a long consolidation near the level. The recent rejection enabled the bears to crush the support levels and cause a crash to the $150 level.

Will XMR recover to its all time high?

Monero is expected to recover toward its all-time high of $518 by mid-2026 as the privacy chain continues to reduce its tech debt and progresses toward greater utility and privacy. However, the platform might have to overcome regulatory scrutiny and challenges before it can see mass adoption.

Will XMR reach $200?

Monero is experiencing a steady bullish rally that may reach the $200 mark before the year closes.

Will XMR reach $1000?

The chance of Monero (XMR) hitting $1,000 hinges on various factors. Adoption of privacy transactions and technological advances could increase demand. Favorable regulations and market sentiment toward privacy coins would also help. Yet, regulatory risks, competition, and market volatility are challenges. $1,000 is possible with favorable conditions, but market dynamics and regulations will shape its path.

Does XMR have a good long-term future?

Monero (XMR) has the potential for a strong long-term future due to its focus on privacy and security, which makes it attractive to users seeking anonymity. However, regulatory scrutiny and notoriety from being the favored medium for some past criminals make it challenging to become the star of the market. Monero’s commitment to privacy gives it a solid foundation for long-term growth, but it must navigate market and regulatory landscapes carefully.

original link
https://www.cryptopolitan.com/monero-price-prediction/