Monero price stays buoyed above $300 as excessive greed drives the crypto market. The crypto concern and greed index is at present at $79 in comparison with the earlier session and week’s degree of $73.
Notably, the bullish sentiment boosted the main cryptocurrency to its highest degree since mid-Could at $52,256.12. On the identical time, varied altcoins, identical to Monero worth, have exhibited the same development. For example, Ethereum Basic surged to its highest degree since mid-August at $77.38 earlier within the day earlier than pulling again. Equally, Dogecoin worth is discovering help at $0.3000. Earlier within the day, it hit an intraday excessive of $0.3200, which is its highest degree since late August.
Monero worth prediction
Monero worth has bounced off the help zone of 300 after dropping from an intraday excessive of 321.77. On the time of writing, the crypto was down by 2.49% at 307.55. Notably, 300 has been a vital help zone over the previous two weeks.
On a four-hour chart, it’s buying and selling barely above the 25 and 50-day exponential transferring averages. Within the ensuing periods, I count on Monero worth to proceed discovering help at 300. Within the rapid time period, its help degree will probably be alongside the 25-day EMA at 306.30.
The bulls might try to retest the day’s excessive of 321.77. A breakout from the resistance zone of 320 will place the following goal at 340. Nonetheless, this thesis will likely be invalidated by a transfer beneath 300.