Crypto Technicals: Monero (XMR) slips below 78.6% Fib, 'Death Cross' plummets prices

XMR/USD chart - Trading View

Exchange - Karken

Support: 49.45 (Mar 26 low); Resistance: 58.08 (110H EMA)

Technical Analysis: Bias Bearish

Monero (XMR) slips below 78.6% Fib retracement at 54.90, bias bearish.

XMR/USD was trading 2.98% lower on the day at 54.38 at 08:50 GMT.

The pair is extending weakness after price action breached 'Wedge base' support in last week's trade.

Momentum strongly bearish. Further, 'Death Cross' on the daily charts adds to the downside pressure.

The pair now is on track to test next support at 49.45 (Mar 26 low). Further weakness will see dip till 88.6% Fib at 46.62.

On the other side, 110H EMA offers strong resistance at 58.08. Break above 21-EMA (66.21) required for further upside.

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