TL;DR Breakdown Monero price analysis shows XMR is facing a decline today.Price levels have lowered to the $255 value.Further drop may cause price to go below $248.5 support. The Monero price analysis is indicating that the price is rising but on a slow node, today as XMR bulls struggle. The price levels have been receding again during the current hours, and today the price has decreased even further to $255. Although the bulls tried to take the price up again in the last hour, they have not been able to overcome the bearish momentum. There is a chance for the bulls to take the price up if they get enough support. XMR/USD 1-day price chart: Bulls initiate their struggle for a high price after major defeat The 1-day Monero price analysis is showing a slight increase in the price as the bulls are fighting back for the lead. The past week has been hectic for the cryptocurrency as there has been a continuous drop in the price. The drop had been too overwhelming to overcome for the bulls, yet today they have been successful enough to take the price to $255.2. As the past week has seen the bears at the lead, the moving average (MA) is still at a higher position i.e. $281. XMR/USD 1-day price chart. Source: TradingView The volatility is gradually increasing which is a negative sign for XMR/USD. Moreover, the Bollinger bands have reached the following values; the upper value is at the $336.4 mark while the lower value is at $247.33....
