XMR Technical Analysis: Sellers At $200 Under Extreme Stress

XMR prices showcase an impressive recovery rally resulting in a rally to the $200 with a 40% jump. But will buyers reclaim the $200 threshold? Key technical points: XMR market value inflated by 25% last week. The Vortex indicator signals a trend reversal. The 24-hour trading volume of XMR is $ 203 Million, indicating a fall of 18.09%. Past Performance of XMR On the 22nd of April, the XMR buyers fell off the bullish wagon resulting in a sudden downfall breaking under $200. Under the resistance trendline influence, the downtrend continued below the psychological mark, but the buyers restarted the recovery at $137. The reversal started with a morning star at $137, breached the resistance trendline, and now hopes to reclaim the $200 mark. Source-Tradingview XMR Technical Analysis The XMR buyers attempt to break above the $200 threshold, but the higher price rejection showcases an attack from the seller’s side. Moreover, the EMAs maintain a bearish cluster close to $200, increasing the number of bearish hurdles. Even the fall in trading volume during the bullish siege cuts points of breakout possibility and warns of another retest to $177. Coming to the technical indicators, the Vortex indicator shows a trend reversal crossover with a significant bullish spread reflecting the solid buying pressure. Furthermore, the ADX indicator shows the DI lines ready to merge and regain the bullish alignment. The falling ADX line reflects a weak...