XMR Technical Analysis: Back at $200, Will XMR Rise Again?

XMR prices break below the support trendline and fail to find support before the psychological level of $200. Will buyers manage to have a bullish rerun? Key technical points: XMR price deflated by 30% last fortnight. The market price falls under the 200-day EMA. The 24-hour trading volume of Monero is $271 Million, marking a 40% rise. Past Performance of XMR XMR token price trades at $207 with more than 2.09% overnight fall. The downfall breaks under the 200-day EMA and shows a dip at the psychological barrier of $200. However, buyers lining up to buy the dip result in a bullish piercing candle. Source-Tradingview XMR Technical Analysis XMR coin price shows higher price rejection in the daily candle during the 90 points last fortnight, implying a formidable selling pressure. Hence, the recovery projects a higher likelihood of being a retest rather than a trend reversal point. Moreover, the lack of significant increase in trading volume questions the bull run possibility. The correction rally induces a bearish influence on the 50-day EMA, resulting in a falling trend and lowering the chances of the 100 and 200-day EMA bullish crossover. Moreover, the market price retests the merged EMAs with an evident higher price rejection. The RSI slope displays a minor reversal from the oversold zone, ready to approach the 14-day SMA. The MACD and signal lines project a huge bearish spread, continuing to grow as the lines fall under the ha...