Crypto Technicals: XMR/USD recovery lacks traction, price action capped below 21-EMA (75.86)

XRP/USD chart - Trading View

Exchange - Kraken

Support: 68.82 (61.8% Fib); Resistance: 76.79 (200-DMA)

Technical Analysis: Bias Neutral

XMR/USD recovery pauses shy of 21-EMA resistance (75.86), upside lacks traction.

The pair was trading 2.07% lower on the day at 73.23 at 06:00 GMT, bias is bearish.

Price action grinds lower in 'Sloping Triangle' pattern and is struggling to break above 200-DMA.

Major trend is bearish as suggested by GMMA indicator, but near-term trend is sideways.

Strong support lies at 61.8% Fib retracement at 68.82. Break below will see test of trendline support at 67.85.

On the flipside, decisive break above 200-DMA required for reversal. Upside continuation above daily cloud.

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