This website uses cookies to ensure you get the best experience on our website

Technical Analysis for XMRUSD for 14th December 2021

Monero Might Lose $180, Forcing the Coin to 2021 Lows

Monero developers are hard at work. Following the success of the XMR-BTC atomic swap, the team realized the first XMR-ETH swap in late November. Plans are now in motion to build another trustless bridge with ERC-20 tokens.

Past Performance of XMR

Like the broader crypto market, Monero is down, bleeding when writing. 

Technically, the blast below $250 and September 2021 lows triggered a sell-off, pushing prices to spot rates. 

With sellers dominant, the probability of Monero posting even more losses in subsequent sessions remains high reading from the XMRUSDT performance in the daily chart.

What to Expect of XMR

The drawdown of December 13 saw XMR dump eight percent, setting the pace for even more profound losses confirming the slump of early December. 

As from the XMR candlestick arrangement, sellers are at the wheel as long as prices are below $250. 

Notably, the momentum south is high since bars are aligning with the lower BB, diverging from the middle BB. 

These are indicators of weakness that oppose the preview of optimistic Monero traders.

Monero Technical Analysis

As mentioned earlier, Monero is within a bear breakout pattern, dumping under the weight of sellers. 

Overall, XMR is down roughly 40 percent from Q4 2021 and critically below $250. 

Since the downtrend is with increasing trading volumes translating to momentum, aggressive Monero traders might unload on pullbacks targeting 2021 lows of around $120. 

It is especially the case if $180 falls to hold sellers.

Resistance level to watch: $250

Support level to watch: $180

Disclaimer: Opinions expressed are not investment advice. Do your research.

For more interesting tips and facts visit our Education Centre.

Have Questions? 

We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020