Past Performance of Monero
Monero bulls are struggling at spot rates. Even with the broader market expanding, XMR remains pinned in a bear formation. Presently, resistance is at
165
, and the coin remains in a bearish shape defined by the bears of early February to mid-March 2023. As it is, support lies at the middle BB, that is, the 20-day moving average, and around $158.
#Monero Technical Analysis
The path of least resistance from a top-down preview is southwards. Notably, sellers throughout February to mid-March capped the upside. Resistance is at
165
, while support is $158. The middle BB also serves as a vital reaction line. However, the March 27 bear bar defines the current formation. Although prices floated higher, they couldn’t break
165
and reverse the losses of March 27. Therefore, conservative traders can watch how prices react at $150. Losses below this level may see XMR drop to
130
since sellers are in control from an effort versus result perspective.
What to Expect from #XMR?
Unless there is a sharp, high volume break above
165
, reversing March 27 losses, sellers will be in control. They will be aligning with sellers in February 2023. Currently, immediate support lines are at
158
and
150
, respectively.
Resistance level to watch out for:
165
Support levels to watch out for: 158 , 150
Disclaimer: Opinions expressed are not investment advice. Do your research.
Monero bulls are struggling at spot rates. Even with the broader market expanding, XMR remains pinned in a bear formation. Presently, resistance is at
165
, and the coin remains in a bearish shape defined by the bears of early February to mid-March 2023. As it is, support lies at the middle BB, that is, the 20-day moving average, and around $158. #Monero Technical Analysis
The path of least resistance from a top-down preview is southwards. Notably, sellers throughout February to mid-March capped the upside. Resistance is at
165
, while support is $158. The middle BB also serves as a vital reaction line. However, the March 27 bear bar defines the current formation. Although prices floated higher, they couldn’t break
165
and reverse the losses of March 27. Therefore, conservative traders can watch how prices react at $150. Losses below this level may see XMR drop to
130
since sellers are in control from an effort versus result perspective. What to Expect from #XMR?
Unless there is a sharp, high volume break above
165
, reversing March 27 losses, sellers will be in control. They will be aligning with sellers in February 2023. Currently, immediate support lines are at
158
and
150
, respectively. Resistance level to watch out for:
165
Support levels to watch out for: 158 , 150
Disclaimer: Opinions expressed are not investment advice. Do your research.
