Monero Price Analysis: XMR has two key support level coming up

• XMR trades 3.75% lower as the crypto rout continues on Friday.
• Although it is lower we will see what the bears are made of soon as there are two key support levels near.

XMR/USD Daily Chart

Monero has fallen heavily this week losing around 20%.

On Friday XMR/USD is 3.75% lower as the selling pressure starts once again.

Looking at the chart below its clear the bears are in control but there are two key support levels near.

First is the 65.83 low which was a good support back in late August. 

Then the 60 psychological level is beyond that and this level has been used multiple times. 

One key bullish point on the chart is the failure swing. This is when the indicator makes a lower low wave but the price makes a higher low wave.

We are currently seeing this and it often indicates that prices may start rising again.

Additional Levels