XMR hourly chart makes rising wedge, a pessimistic pattern.
360-minute chart includes a downward sloping channel.
Monero bulls have lost and don't have any signs of coming to the fore provided that the chart formation on the short term moreover as medium term suggests the downward journey is probably going to continue for a few longer.
XMR/USD is down over one p.c on day at $124.72 as against most alternative major cryptos UN agency area unit commerce within the inexperienced shade. On the hourly chart, could be a} rising wedge pattern visible that is a pessimistic pattern and would end in costs falling to lower levels during a gait once the breakdown.
If that wasn't enough, on the 360-minute chart, the formation of lower low, lower high downward sloping trendline channel conjointly has at bay the bulls and would keep pressure high on the costs to stay lower for a few longer and likelihood is that it's going to head all the thanks to Nov 2017 lows, wihch is placed well below $100 mark within the $80s.
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