Monero has been trading in the direction since the beginning of March and has recently began consolidating along the shorter 78.6% fib retracement line. Following the , the price is predicted to reverse off the 2/1 line or break and continue going south.
There is a support line matched with the 2/1 line that provide for a strong support to reverse the trend. But the lines indicates the opposite to occur and that the trend will continue.
Looking at the Exponential Moving Averages, it can be seen that the 20 has been moving close to the 200 and just recently at the beginning of April fell below the 200 signaling to sell and a potential movement if it continues.
Important Resistance Levels: 249.03
Important Support levels: 120.47, 151.88
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CONFLICTS OF INTEREST
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