Starting in mid-January 2022, investors’ hopes for a bright future for XMR have faded. After losing a critical range of $187, buyers showed a global weakness in the weekly timeframe. This range has served as a support for buyers throughout 2021. 4 global attacks buyers were able to repel due to this range. However, the weekly candle of 17 January selected the initiative of buyers in the XMR market. For the third week, buyers are trying to regain control of the initiative in the market and the mark of $187. Though, at the moment this attempt is more like a light test of the liquidity zone before the start of a new fall wave. https://www.tradingview.com/x/28OxJ6ug/ Trading volumes during the breakout of the $187 range were average. But, now buyers are trying to get along with sellers, the trading volumes is even smaller. This indicates a low interest of buyers in the formation of a new growth trend. In this case, the main and most likely scenario in the XMR market is to continue falling to $123. It was this mark that was able to stop the powerful fall wave in May 2021 and give market participants a powerful price rebound. Technical Analysis Of XMR On The Daily Timeframe https://www.tradingview.com/x/4uFJr8s4/ The new timeframe also indicates a new fall wave. If the local growth wave on 4 February looked cheerful and full of optimism, the current upward movement looks like the last breath before capitulation. The movement of pric...
