XMR/USD bearish structure awaiting break lower

Fibo Quantum

  • Monero trading down on Thursday 1.45% towards the latter part of the session.
  • XMR/USD has formed a bearish structure via the 4-hour chart view.
  • A bearish pennant pattern, something similar seen across with other cryptos, subject to break lower.

 

XMR/USD 4-hour chart 

 
 

Spot rate:                  68.89

Relative change:      -2.08%

High:                         71.22

Low:                          67.76

 

Trend:                        Bearish

 

Support 1:                  68.27, lower part of pennant. 

Support 2:                  65.93, daily pivot point support.

Support 3:                  62.53, daily pivot point support.

Resistance 1:             69.49, upper part of pennant.

Resistance 2:             72.06, daily pivot point resistance.

Resistance 3:             74.85, daily pivot point resistance.