Monero price analysis: Bearish momentum slows down bullish progress to reach $305

TL;DR Breakdown The latest Monero price analysis shows a decline in price.Bearish momentum has reduced the price to $304.67.Further downgrade in price is to be expected. The Monero price analysis is showing a decline in the price value, as the bears have made a considerable comeback. The past few hours had seen an extraordinary rise in the price, as more buyers entered the market. Today’s trend is going towards the downside, as the bears are trying to pave way for their momentum. The price has reduced to $305 and is expected to decrease further if more sellers continue contributing to bringing the price down. XMR/USD 1-day price chart: Bulls are on course to win back former height The 1-day price chart showing Monero’s progress is going towards the bullish direction today. The bullish momentum is rising and so has the price successfully reached the value of $305. The moving average (MA) value is $298.57, slightly lower than the current price as the past week has seen a relatively greater number of bearish strikes. The volatility has increased, which can be taken as negative news for the future of cryptocurrency. XMR/USD 1-day price chart. Source: TradingView The Bollinger bands in the 1-day price chart are indicating the following values; the upper band is found to be at $327.5 while the lower band is at $250. The Relative Strength Index (RSI) score has improved in the last 24-hours as well, as it has climbed up ...