Monero Coin (XMRUSD) price declined during its latest intraday trading, following the firm holding of the key resistance level at $356.30. A negative crossover has started to appear on the RSI after reaching overbought territory, diverging from price action and signaling the early formation of a bearish divergence. However, on the other hand, the price is still supported by the dynamic support represented by trading above the 50-period simple moving average, while a short-term corrective upward trend remains in control.

Therefore we expect the cryptocurrency price to decline during upcoming intraday trading, as long as it remains below the key resistance level at $356.30, targeting the first support level at $324.00.

Todays price forecast: Bearish