XMR Technical Analysis: Bears Hijack Uptrend Hoping A Reversal To $135

XMR prices face a significant rise in selling near the $175 mark resulting in a downfall of 5.59%. Should you expect a fall below $150? Key technical points: The XMR prices grew by 25% from $135 last week. Monero price action halts the V-shaped recovery at $175. The 24-hour trading volume of Monero is $192 Million, indicating an 11.5% rise. Past Performance of XMR As mentioned in our previous analysis, XMR prices break under the psychological mark of $200, resulting in a downfall below all the crucial SMAs. The decline shows lower price rejection at $115 to find a closing above the $130 and forming a morning star pattern. This bullish reversal pattern helps Monero recover 25% of market value over the weekends. Source-Tradingview XMR Technical Analysis The reversal rally in the XMR prices lacked the bullish support evident by the volume indicator. Thus, the start of the new week brings a reversal in Monero prices near the $170 mark resulting in a 5.55% fall with the latest daily candle, at press time. In the past few weeks, the heightened selling pressure has undermined the golden crossover between the 50- and 200-day SMA. The trend that is sideways after crossing falls under bears’ pressure and plunges, increasing the chance of the death cross. Following a dramatic parabolic reversal away from the oversold border, the RSI slope exceeds its 14-day SMA and displays a retest as the price reverts. Additionally, the DI lines of the...