The crash of the cryptocurrency market hasn’t spared top coins like Bitcoin [BTC], Ethereum [ETH] or XRP, and it certainly hasn’t spared Monero.
Monero shows a decrease of 34% in the seven-day interval. The prices of Monero are currently trading at $69.04, while the market cap has come down to $1.14 billion. The one-hour time frame shows some improvements as the prices have started climbing up. The trading volume of Monero in the 24-hour time frame adds up to $31.66 million, most of which is contributed by Bithumb [~73%] in terms of XMR/KRW trade pair.
The one-hour chart shows a downtrend that extends from $106.53 to $70.48. The prices have broken support at $82.19 and have created a new support at $67.06. There are consecutive resistance points formed at $76.78 and $95.10.
The Bollinger Bands are in an expanded state which shows the increase in volatility. The prices have hit the oversold spot and have started to rise up towards the simple moving average.
The Aroon upline and downline are not showing any crossovers which indicate consolidation going on in the market.
The Stochastic lines have climbed above the oversold zone in a bullish crossover.
Monero is on the decline as depicted by the downtrend which extends from $249.447 to $90.15. The prices are dipping without stopping and have broken support set up at $84.20. The resistance points can be seen set up at $115.34, $137.89, $164.63 and $212.87.
The Parabolic SAR markers show a bearish trend since the markers are formed above the price candles.
The Chaikin Money Flow has dipped below the zero line, indicating that the inflow of money for XMR has stopped, while outflow has increased, a bearish sign.
The Awesome Oscillator shows a bearish crossover and red spikes are increasing in length below the zero line, which indicates that the prices are decreasing.
In the one-hour chart, all the indicators show a struggle to climb back from the bear’s pits. The one-day chart seems bleak with indicators like SAR, AO, and CMF showing a rather bearish trend in control.
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