Monero XMR has been a weak link lately, at support level now

Monero has been a weak coin as well lately, very close to the previous low of April already, showing the weakness of this Alt coin very clearly. It does seem to be inside a very big triangle, something we can't ignore. For a bullish scenario i think price should not drop below the 190/180 and should find support from that green support area it's in at the very moment. If they manage to do that, than it will have formed a higher low on the longer time frame and if the market in general goes bullish again XMR could break out of the triangle triggering a longer term buy signal.
I think the chances are bigger that it will drop even more, fact that it has been weaker than the market lately, suggests it want's to drop even more. It seems to be inside a bear flag now. So if we drop below that support level around 190, it will probably test the previous low which is a very big support level. But i think that if we get there, the support will eventually break. So this week will probably be an important one for Monero

Commento:

Same story here, still weak, but the support level is still working so far. Way to early to think about the blue line scenario, only a rise above 240 would allow to even think about that. It almost broke the bear flag on the upside, but so far it dropped back in again. So no clear signal here

Commento:

This bull flag looks less strong than other coins, confirming the weakness of Monero. Still able to form a good bull flag, but it should not drop any lower than this

Commento:

Still inside that bear flag, there is nothing bullish to say for XMR, expect that it's still on the support area, so there is still a chance it goes up. A rally above 240 would be good for the bulls, but i give that 20%. Chances are much bigger we drop even more

Commento:

Here we can see why XMR has been a weak link lately, it's already at it's lows of 2018. A bounce is always possible but it's almost certain the support will break eventually