Monero price analysis: XMR sets a higher low at $262 as bulls gain momentum

TL;DR Breakdown Monero price analysis shows a slight price improvement today.Resistance is currently found at $266.XMR/USD may retest the support of $252. The Monero price analysis shows some bullish activity is taking place during recent hours. The XMR price has increased by some margin after the flash crash, as XMR/USD pair sets a higher low at $262. After the strong bearish tide of the last two days, bulls are struggling to preserve the support of $252. Despite the bullish efforts, the bearish strokes are proving overwhelmingly powerful. Most of the top 40 altcoins are improving today after the recent downfall, and Monero is no different. Monero has also joined the altcoin trend and has shown a 2.2 percent increase in value today, while stile XMR has lost a value of overall 13.88 percent during the past week. The cryptocurrency king Bitcoin is also down by 0.11 percent, but the unofficial queen Ethereum has gained 2.4 percent in the last 24 hours. The talk of the town about the queen getting out of the king’s shadow might be true. XMR/USD 1-day price chart: Bulls struggle to preserve $252 support The 1-day Monero price analysis chart shows bulls are trying to save the support of the $252 as previous support of the $281 has already fallen. The XMR/USD pair is trading in the range of 255-$266. XMR/USD 1-day price chart. Source: TradingView The moving average (MA) has come down to the $291 mark crossing down the Bo...