- Monero reversed from round resistance level 400.00
- Likely to fall to support level 300.00
Monero recently reversed down from the powerful round resistance level 400.00, standing far above the upper daily Bollinger Band.
The price will form the weekly Japanese candlesticks reversal pattern Bearish Engulfing if it closes this week near the current levels – strong sell signal for Monero.
Given overbought reading on both weekly RSI and Stochastic, Monero can be expected to fall to the next round support level 300.00.
- Likely to fall to support level 300.00
Monero recently reversed down from the powerful round resistance level 400.00, standing far above the upper daily Bollinger Band.
The price will form the weekly Japanese candlesticks reversal pattern Bearish Engulfing if it closes this week near the current levels – strong sell signal for Monero.
Given overbought reading on both weekly RSI and Stochastic, Monero can be expected to fall to the next round support level 300.00.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.