Monero Bulls Getting Weak

Monero Bulls Getting Weak:

PRICE ANALYSIS

Currently trading above 200 MA and 50 MA have crossed 100 MA. Right now the Monero is in the uptrend and but facing correction for a while. MACD is showing that the trend is losing momentum. Stochastic is showing downward crossover promoting the correction as well. Global exchange. ADX is showing strength in uptrend and Right now the conversion line is above the base line. So we can assume that correction is going to end soon. Global X change.

STRATEGY

Global xchange. Resistance on the following charts is at $101.347 and supports are at $76.01 and $71.21 price level. We can expect a bounce back in the price hopefully from $76.01 or $ 71.21. The price level of $50.802 can be seen easily when closing price with high volume crosses the lower support level. Global X change.

RSI is around 57.58 and bounces back from 52.9. At this point, the correction may end and we can see the target of $101.347 in the near future.