Monero (XMR)

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There is a probability for the downward movement this week; traders should follow the trend patiently.

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In case the distribution level of $128 is broken, the pair will resume its uptrend movement and upper distribution territory of $140 will be exposed. A breakout at the upper area or breakdown at the lower area is imminent, so traders should be patient when taking a trade.

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Trading can be done within the range by lookout for the opportunity to initiate a buying trade at a lower level of price and selling trade at a higher level as the price continues its ranging within the territories of $128 and $102.

The price continues its ranging within the territories of $150 and $102. Traders can look out to initiate a long trade at the lower level of price in case of the price fall to the lower level of the price range.

Should the strong accumulation level of $102 get broken, the pair will experience further downward movement and get exposed to another accumulation level at $77

The coin broke the upper trend line of the last week ascending triangle which led to uptrend movement towards the distribution territory of $151.