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Cryptoknowmics 2022-04-27 09:40:59

XMR Technical Analysis: 20% Fall Collapses Support Trendline

Failing to reach the $300 mark, XMR coin prices face rejection at $275, resulting in a sharp fall breaking below the support trendline. Key technical points: The XMR prices fail to sustain the uptrend. The downfall reaches the 50-day EMA. The 24-hour trading volume of Monero is $285 Million. Past Performance of XMR XMR coin price shows a phenomenal bullish rise in the past two months with a growth of 92% and reaching the $275 mark. However, the uptrend fails to reach the $300 mark as sellers enter at $275, resulting in a downfall below the support trendline. During the week, the coin price falls 18% and reaches the 50-day EMA. Source-Tradingview XMR Technical Analysis As the selling pressure grows, the XMR coin price finds a bullish breather near the $225 level resulting in a Doji candlestick. Hence, a potential side trend is possible before bears regain trend control. The falling trend finds support at the 50-day EMA but lowers the 100 and 200-day EMA crossover chances. However, the merger of the EMAs will provide a solid support level in case of 50-day EMA fallout. MACD Indicator: The MACD and signal lines start a falling trend after the bearish crossover and intensify the bearish histogram. RSI Indicator: The RSI values fail to reach into the overbought category and crack under the 14-day average and the halfway mark. In a nutshell, the XMR technical analysis displays a halt in the downtrend and increased chances of consoli...

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