The bullish reversal from the $130 mark struggles to surpass the $200 barrier and warns of a fall in XMR market value to $150. Key technical points: The XMR prices show a slight recovery of 1.66% over the past 24 hours. The breakout failure cracks the market value under the support trendline. The 24-hour trading volume of Monero is $95.51 Million, indicating a fall of 25%. Past Performance of XMR XMR prices showcased a V-shaped reversal from the $130 resulting in a 50% price jump to $200 but failed to surpass it, resulting in the crackdown of the support trendline. However, the lower price rejection keeps the price trend trapped in a lateral shift. The falling trend in the intraday trading volume fuels the indecisive trend, and a surge will spike the price significantly. Source- Tradingview XMR Technical Analysis XMR buyers showcase a retracement rally taking support at the $177 mark and avoiding a bearish downfall as the lower price rejection helps the price float. However, a price action confirmation will signal an entry opportunity as the trapped momentum unleashes. The crucial daily EMAs – 50, 100, and 200-days maintain a bearish alignment, signaling the long-term correction phase. Moreover, the EMAs maintain a high supply pressure area above the consolidation range. The MACD and signal lines showcase a bullish rally failing to sustain the uptrend as they merge and warn of a bearish crossover. Moreover, the falling trend o...
