XMR Technical Analysis: New Opportunity Arises For Monero Buyers

XMR price action showcases lower price rejections near $100, projecting a high likelihood of a bullish reversal to the $130 mark. Key technical points: The market price has increased by 3.44% over the past 24 hours. The price action shows a possibility of a double bottom reversal from $100. The 24-hour trading volume of Monero is $77.5 Million, indicating a downfall of 5.97%. Past Performance of XMR XMR price action shows the bearish retracement rally from the $130 mark as the selling pressure overpowers the trend. The falling trend loses momentum as it approaches the psychological mark of $100, evidenced by the lower price rejection candles. Hence, the price action hints at a double bottom pattern formation with a neckline at the $130 mark. Source- Tradingview XMR Technical Analysis XMR prices showcase a fall in the trading volume, cutting points from the bullish reversal theory. However, the possibility of a morning star pattern near the $100 support will increase the bullish reversal possibility significantly. The MACD and signal lines showcase a bullish trend struggling to maintain a positive alignment as the spread decreases. However, the positive growth in the bullsih histograms forecasts an uptrend continuation. However, the RSI indicator shows the slope reversing from the 14-day SMA, indicating a rise in the underlying bullishness. Moreover, the bullish divergence in the double bottom at $100 increases the chances of a...