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</div><p>Monero [XMR], the 10th largest cryptocurrency in the world and one of the remarkable privacy coins, recently experienced a jerk in its trading price after the bear crashed the crypto-party this week. Just like all the top-10 cryptocurrencies, XMR also came spiraling down by more than 10%.</p>
<p>At press time, the coin is trading at $101.3 with a market cap of $1.66 billion. The trading price of XMR is slowly recovering and showing a drop of 1.69% with a 24-hour trading volume of $16.7 million.</p>
<div id="attachment_47007" style="max-width: 1013px" class="wp-caption aligncenter"><img class="wp-image-47007 size-full" src="https://ambcrypto.com/wp-content/uploads/2018/10/monero1hourcandle.jpg" alt="XMR 1-hour price candles | Source: TradingView" width="1003" height="524" /><br/><p class="wp-caption-text">XMR 1-hour price candles | Source: TradingView</p></div>
<p>In the 1-hour timeframe of XMR candlesticks, the MACD made a negligible bearish crossover and strolled back to the greener side of the road. Henceforth, the indicator is suggestive of a bullish presence in this case.</p>
<p>The Bollinger band is currently advocating for a relatively stable price run for XMR, without the presence of much volatility.</p>
<p>Chaikin money flow has taken a downturn and is approaching the grounds, yet fairly away from the sellout zone. Thus, the indicator is in a healthy zone as of now, flashing a green signal as represented by the recent upwards movement.</p>
<div id="attachment_47010" style="max-width: 1013px" class="wp-caption alignnone"><img class="wp-image-47010 size-full" src="https://ambcrypto.com/wp-content/uploads/2018/10/monero1daycandle.jpg" alt="XMR 1-day price candles | Source: TradingView" width="1003" height="526" /><br/><p class="wp-caption-text">XMR 1-day price candles | Source: TradingView</p></div>
<p>In the 1-day scenario of XMR price candles, the two trend lines from $248.91 to $115.32 and $84.23 – $100.66 are moving towards each other, where an intersection is apparent on observation. This is indicative of a breakout in the XMR price trend.</p>
<p>Meanwhile, the RSI has bounced back just before entering the oversold zone and is currently in favor of the bull-rule.</p>
<p>However, the Awesome Oscillator is still warning the XMR market with a weak red signal flashing across the board.</p>
<p><strong>Conclusion:</strong></p>
<p>Concluding the technical analysis, most of the market indicators look satisfied with XMR’s price performance and are supporting a positive prediction. Therefore, Monero might see a pump in its price soon, avenging the bear-attack that turned the grass bloody.</p>
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</div></div> <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://coinmarketnewstoday.com/2018/10/monero-xmr-usd-technical-analysis-the-bull-of-the-bear-street/ </em><hr/></center>