Monero (XMR) was able to burst through a descending channel this morning signaling a bullish reversal. Unfortunately, the price faced resistance at $150 and started pulling back. The Fibonacci retracement tool from the latest price breakout served as possible support levels for the bulls. The price of Monero is current pulling back after the strong upside breakout.

Monero (XMR) Technical Analysis Today

According to the technical indicators, the 200 SMA is below the 100 SMA showing that downside holds the path of least resistance.

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