Monero price analysis: After the breakdown, a try at moving up
|- Monero the outlier on a red day, moves up.
- Just below a key trendline resistance.
Monero is one of the outliers with a green showing on a day when all the other major cryptocurrenies are sgtruggling to stand on their feet. This happens when a day after it broke down of a key level on the long term charts.
XMR/USD is up 2 percent at $204.28, but it is still down more than 13 percent for the week. XMR broke down of a strong long term trendline support on a daily chart and is now trying hard to come back above it. The price just below the trendline resistance which stands at $207 now.
Immediate resistance for the crypto now is that very trendline while support at $192 after the pivot point of $198, below which the trend turns negative for the day.
XMR/USD daily chart:
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