Monero (XMRUSD) price recorded gains in its latest intraday trading, supported by rebounding from the support of its 50-day SMA, which provided positive momentum that helped drive these gains in a key step toward regaining its recovery. This comes amid the dominance of a short-term primary bullish trend, with price moving alongside a supporting trendline. The advance also followed the easing of overbought conditions on the Stochastic indicator, giving the cryptocurrency more room to extend its gains in the near term.

Therefore we expect the cryptocurrency price to rise during its upcoming intraday trading sessions, as long as it remains stable above the support level at $350.00, targeting the key resistance level at $375.00.

Todays price forecast: Bullish