Monero XMR Is Testing $134 Resistance in a Bearish Pennant Sample
- Monero XMR is buying and selling at $132 and is down 0.51% within the final 24 hours.
- XMR is testing the resistance degree which is positioned between the $134-$136 vary.
- 200-day MA and 50-day MA are positioned parallel to the horizontal; costs are obliged to maneuver sideways.
Monero XMR is buying and selling as we speak at $132.19 with a 24 hour buying and selling quantity of $73,897,187. The token is down 0.51% within the final 24 hours. At present, CoinMarketCap ranks XMR #24, with a reside market cap of $2,406,405,490.
XMR is traversing a bearish pennant sample. Notably, XMR may be very near Resistance 1, which is positioned between $133-$135. Ranging from November 9, XMR was setting new larger lows up till November 18.
On November 9, XMR was buying and selling at $115; on November 14, it set a better low of $122; and on November 16, it set a brand new larger low of $126. Afterward, XMR reached its acquainted territory, which is positioned between the $130-$133 vary.
Ever since XMR reached the $130-$134 vary on November 16, it has been fluctuating in that area up till November 20. Nonetheless, the worth fell beneath the $130 mark and got here again to its acquainted vary between $130-$133 in fast succession, and it appears to be testing Resistance 1.
Curiously, the 200-day MA (yellow line) and the 50-day MA (purple line) appear to be parallel with the horizontal, which signifies that the costs can be transferring sideways.
Nonetheless, if the bulls dominate the market, XMR can break Resistance 1. With extra extreme pressure from the bulls, XMR can be seeking to hit Resistance 2.
XMR/Tether -1h Chart on TradingView
Alternatively, if the bears take management of the market, then XMR could also be touchdown on Help 1, which is round $125. And if the bear continues its dominance available on the market and breaks Help 1, then XMR can be touchdown on Help 2, which is round $115.
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