Crypto Technicals: XMR/USD recovery finds major hurdle at 200H MA (54.36), further gains only on break above

XMR/USD chart - Trading View 

Exchange - Bitfinex

Support: 50.631 (5-DMA); Resistance: 54.36 (200H MA)

Technical Analysis: Bias slightly bullish

Monero is extending gains for the 2nd consecutive session, intraday bias is turning slightly bullish.

XMR/USD was trading 3.29% higher at 51.808 at 10:50 GMT after closing 5.07% higher in the previous session.

Price action is extending gains above 5-DMA and technical indicators on the intraday charts are turning slightly bullish.

RSI is on verge of a bullish crossover from oversold levels and price action has formed a 'Bullish Divergence' on RSI on the hourly charts.

Major hurdle for the pair's recovery lies at 200H SMA at 54.36. Break above will see further upside.

Next major resistances align at 56.63 (21-EMA), 59.89 (55-EMA) ahead of 64.93 (110-EMA).