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Crypto Technicals: XMR/USD fails at 21-EMA, bearish bias builds, scope for downside resumption
XMR/USD chart - Trading View
Exchange - Bitfinex
Support: 49.562 (Lower BB); Resistance: 54.943 (21-EMA)
Technical Analysis: Bias turning bearish
Monero is extending sideways grind as bulls unable to break stiff resistance at 21-EMA (currently at 54.943).
XMR/USD was trading 0.66% lower at 54.025 at 11:15 GMT, after closing 0.45% higher in the previous session.
Major trend in the pair is bearish as evidenced by the GMMA indicator, scope for downside resumption.
Recovery from multi-month lows at 46.101 has paused at 21-EMA, pair is extending sideways.
Technical indicators are turning bearish. Stochastics RSI is on verge of rollover from overbought levels.
The pair is currently holding support at 20-DMA at 53.484. Break below will see dip till lower BB at 49.562.