Monero price climbed above $ 148 on Feb.2 after breaking above a significant resistance near the $ 146 level. Berzerk Invest’s Monero price prediction shows that the cryptocurrency could rise towards the $ 151 level to test resistance.
1-day Monero price chart
XMR price surpassed $ 148 after forming an upward slope. The highest price in the last 24 hours was recorded as $ 148.09 and the lowest as $ 142.98.
As for market sentiment, technical indicators show the crypto presence in a buyer zone. Of the 26 indicators, 14 show a buying indicator, with 10 in the neutral zone and 2 in the sales zone. Two of the 11 oscillators show the buy signal, while nine are in the neutral zone. Of the 15 moving averages, 12 are in the buy zone, one in the neutral zone and two show a sell signal.
During the 1D timeframe, the XMR price broke around $ 145, slightly above the midline of the Bollinger groups. This indicates that the cryptocurrency is heading towards the $ 165 level where the upper Bollinger band is placed.
Trading View analyst Berzerk Invest suggests that the cryptocurrency will rise to $ 151. According to the Monero price prediction, the cryptocurrency is rising on a long trend line and recently climbed above a key resistance level of $ 146.
What do analysts say?
It can be seen that the cryptocurrency trading volume has increased. The analyst stated that a strong uptrend line and a cup and handle pattern can be observed in the larger time frame. If XMR price tests $ 151, traders will expect a breakout here.
Trading View analyst Mahdi Azimi believes that in Monero price prediction, XMR price is trading in a major parallel channel that is rising. The trajectory of the cryptocurrency is heading towards the midline of the main channel and the price is expected to break upwards. According to the Monero price prediction, a retest will follow the trend lines and the price will then show an upward trend. A falling wedge pattern was also broken by the cryptocurrency in July 2020, after which the price can be seen to show an upward trend over the weekly time frame.
Analyst Moon predicts that the XMR price will rise after Gartley completes the bullish pattern. The Monero price prediction also shows that the XMR / USD pair is backed by the 50-Day and 100-Day Simple Moving Averages with a 10 percent probability of loss.