Musiccosmos

XMR continues its downward trending after breaking of $130 distribution level, the pair will experience further downward movement and get exposed to another strong accumulation level at $55. Key Highlights There is a Bearish Confimation Pattern in the Monero daily chart; the more the price goes donwwards, the higher the probability of a strong rally, which may happen anytime; traders are advised to speculate only on what they see. XMRUSD Long-term Trend: Bearish Resistance levels: $110, $120, $130 Support levels: $70, $60, $50 XMR continues its downwards trending after breaking of $130 distribution level. The southwards movement started after consolidation for one week and the 4-day EMA crossed the 50-day EMA downward. Sellers are putting more pressure on the pair, and the price is sliding further downwards. The price is moving away from the 50-day EMA on the Daily chart, which indicates a downwards trend continuation. Minor Accumulation level of $70 has been tested by t...