Monero (XMRUSD) declined slightly in its latest intraday trading, as the price attempts to gain positive momentum that could help it recover and rise again. This comes under the influence of a short-term ascending secondary wave, supported by ongoing dynamic backing from trading above its 50-period simple moving average, which enhances its chances of near-term recovery.

Therefore, we expect the price of the cryptocurrency to rise in the coming intraday sessions, as long as the support level of 379.75 holds, targeting the resistance level of 409.50.

Todays price forecast: Bullish