Monero price analysis: Bulls fight bears to keep XMR near $268

TL;DR Breakdown The Monero price analysis shows cryptocurrency is undergoing recovery.Price upgrade has resulted in $268.2 win.Support level is spotted at the $247 level. The Monero price analysis shows that the cryptocurrency is providing eminent support to the bulls. The bulls have been succeeding so far in their mission of overcoming the increasing bearish momentum. The uptrend has been secured by today’s bullish momentum, as the past few hours had brought instability for the bulls. Monero’s price is now at the high position of $268.2, after recovering from the bearish attack. As the support is strong, chances may be high for the bulls in the future as well. XMR/USD 1-day price chart: Bears establish base near $268 The one-day price chart for Monero price analysis shows Monero’s progress is going slightly towards the bearish side. The price has receded today again after a bullish uptrend of recent days due to the sellers rushing to sell assets, which has brought the price to balance at $268.2 or below and stop the bulls from going further. Bears have been successful so far, as the price underwent decline today. The price is still quite far from the moving average (MA) which is at the $260 stop for now. XMR/USD 1-day price chart. Source: TradingView The volatility seems to be increasing for the one-day Monero price chart, as the Bollinger bands are maintaining their average at $260. The upper value of Boll...