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Crypto Technicals: XMR/USD fails to extend break above 200-DMA, extends weakness for the 4th straight session

Wed, 11 Sep 2019, 06:14 am UTC

XMR/USD chart - Trading View

Exchange - Kraken

Support: 68.82 (61.8% Fib); Resistance: 74.73 (5-DMA)

Technical Analysis: Bias Bearish

XMR/USD is extending weakness for the 4th straight session.

Bias has turned bearish after the pair failed to hold break above 200-DMA.

Technical studies support further weakness in the pair. 5-DMA has turned.

Stochs and RSI are biased lower. GMMA show minor trend has also turned bearish.

Stochastics RSI is showing a rollover from overbought levels and MACD is on verge of bearish crossover on signal line.

Dip till 61.8% Fib at 68.82 likely. Further weakness will see test of trendline support at 64.55 ahead of 58.87 (Apr 29 low).

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