Monero are trading at 206.74 and continue to move as part of the correction and the downward channel. Moving averages indicate a short-term bearish trend for Monero. Prices are again testing the area between the signal lines, which indicates pressure from the sellers of the asset and a potential continuation of the fall from the current levels. At the moment, we should expect an attempt to continue the development of a small correction in the value of a digital asset and a test of the resistance level near the area of 220.55. Where can we expect a rebound again and the continuation of the fall in the Monero rate with a potential target below the level of 150.05.
Monero Forecast XMR/USD December 30, 2021
In favor of reducing the XMR/USD quotes, a test of the resistance line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper border of the descending channel. Cancellation of the option to reduce the coin will be a strong growth in the value of the asset and a breakdown of the area of 245.55. This will indicate a breakdown of the resistance area and a continued rise in the cryptocurrency rate with a potential target above the level of 305.05. With the breakdown of the support area and closing of quotations below the level of 175.05, we should expect confirmation of the development of a downward impulse in Monero, which will also indicate a breakdown of the lower border of the bullish correction channel.
Monero Forecast XMR/USD December 30, 2021 involves an attempt to correct and test the resistance area near the level of 220.55. Where can we expect a rebound and the continuation of the fall in XMR/USD to the area below the level of 150.05. An additional signal in favor of reducing the Monero coin will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the 245.55 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 305.05.
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