A possible prolonged downtrend for XMR

14 de mar. de 2018

XMR has been in an uptrend since November 2017 and has not been significantly -affected by the market - wide crash of 2018. XMR as of now, is in the process of breaking its 4 month upward support line. If XMR has 3 daily candle closes below the long term support line it could signify a trend reversal. Further evidence of a possible trend reversal is the volume on XMR is declining as the value in BTC falls which indicates lowered interest in XMR's price. Finally, during XMR's 4 month uptrend the RSI 50 acted as a support level and as of now, RSI is at 41 which is the lowest it has ever been since November 2017. If RSI 50 acts as resistance that could also indicate a trend reversal.