- Monero reversed from resistance area
- Likely to fall to support level 350.00
Monero cryptocurrency recently reversed down sharply from the major resistance area between the long-term resistance level 475.00 (which stopped the sharp weekly uptrend in 2021) and the upper weekly Bollinger band.
The downward reversal from this resistance area is currently forming the long weekly candlesticks reversal pattern Shooting Star – strong sell signal for Monero.
Given the strength of the resistance level 475.00 and the bearish divergence on the weekly Stochastic and RSI indicators, Monero cryptocurrency can be expected to fall to the next support level 350.00.
- Likely to fall to support level 350.00
Monero cryptocurrency recently reversed down sharply from the major resistance area between the long-term resistance level 475.00 (which stopped the sharp weekly uptrend in 2021) and the upper weekly Bollinger band.
The downward reversal from this resistance area is currently forming the long weekly candlesticks reversal pattern Shooting Star – strong sell signal for Monero.
Given the strength of the resistance level 475.00 and the bearish divergence on the weekly Stochastic and RSI indicators, Monero cryptocurrency can be expected to fall to the next support level 350.00.
By the FxPro Analyst Team
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Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
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By the FxPro Analyst Team
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
Reach out to media.comments@fxpro.com for PR and media inquiries
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
Reach out to media.comments@fxpro.com for PR and media inquiries
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.