- XMR bounces off short term support.
- Heads to long term resistance.
Monero the crypto found a good enough support on the short term chart that resulted in prices rallying up a bit, only to reach a point where it meets a long term barrier that would again result in prices crashing down the valley.
XMR/USD is up more than one percent on day at $118.42, not far from day’s high. On the hourly chart, the crypto managed to find a support from an ascending trendline and bounced about 20 percent from there.
But this bounce won’t last long as the next strong barrier isn’t far from the current prices, around $125, it meets descending trendline resistance on the daily chart which would bring a lot of seling pressure as soon as it crosses $120.
XMR/USD hourly chart:
XMR/USD daily chart:
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