The relatively independent XMR coin, which has repeatedly shown its character and continued to grow during the BTC correction, found itself in an interesting situation.
From November 26, the price of HMR clearly moved within the white growth channel, well predicting the next local high.
However, on December 21, buyers began to be careless with the maintenance of the trend line, as a result, the price repeatedly went beyond it.
The last two attempts to test the upper trend line of the white channel on December 23 and 27 were unsuccessful.
In the range of $165-170 there was a strong seller, which effectively restrained the growth of the price of XMR. Thus, a triangle was formed, which is more likely to shoot up.
The critical point of this scenario is $156. After breaking this mark, sellers will quickly test $144. What can happen next - we will definitely write when this alternative scenario comes into force.
_________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!
From November 26, the price of HMR clearly moved within the white growth channel, well predicting the next local high.
However, on December 21, buyers began to be careless with the maintenance of the trend line, as a result, the price repeatedly went beyond it.
The last two attempts to test the upper trend line of the white channel on December 23 and 27 were unsuccessful.
In the range of $165-170 there was a strong seller, which effectively restrained the growth of the price of XMR. Thus, a triangle was formed, which is more likely to shoot up.
The critical point of this scenario is $156. After breaking this mark, sellers will quickly test $144. What can happen next - we will definitely write when this alternative scenario comes into force.
_________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!
🎁 -10% on ALL trading fees OKX
www.okx.com/join/10pstrade
🔥V-I-P cutt.ly/PwkLhT56
👍Crypto activities and free💲 cutt.ly/0w9VqL2X
💰Trade here + take Bonuses linktr.ee/ps_trade
🔵Telegram t.me/pstrade_eng
www.okx.com/join/10pstrade
🔥V-I-P cutt.ly/PwkLhT56
👍Crypto activities and free💲 cutt.ly/0w9VqL2X
💰Trade here + take Bonuses linktr.ee/ps_trade
🔵Telegram t.me/pstrade_eng
The value of all coins plummeted