Crypto Technicals: Monero (XMR) extends grind higher, eyes 200H MA at 53.36

XMR/USD chart - Trading View

Exchange - Bitfinex

Support: 50.671 (5-DMA); Resistance: 53.36 (200H MA)

Technical Analysis: Bias turning bullish

Monero is extending grind higher from 9-month lows at 46.10, bias turning slightly bullish.

XMR/USD is in the green for the 3rd consecutive session, on track to test 200H MA at 53.36.

The pair was trading 0.76% higher at 51.88 at 07:20 GMT after closing 2.67% higher in the previous session.

Price action is extending gains above 5-DMA and technical indicators on the intraday charts are turning slightly bullish.

5-DMA has turned North and Stochs are on verge of rollover from oversold levels.

RSI shows bullish crossover from oversold levels on daily charts and has formed a 'Bullish Divergence' from price action on the hourly charts.

200H SMA at 53.36 is immediate hurdle for the pair. Break above will see further upside.

Major resistances for the pair align at 56.19 (21-EMA), 59.60 (55-EMA) ahead of 64.70 (110-EMA).

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