XMR Technical Analysis: Rejection At $200 Demands Trendline Retest

XMR price chart shows a bearish rejection at $200 resulting in a retracement to retest the broken trendline. Will the retracement halt at $150? Key technical points: XMR market value decreased by 2.73% in the last 24 hours. The falling channel warns of the fallout of $175. The 24-hour trading volume of Monero is $169 Million, indicating a fall of 24.65%. Past Performance of XMR XMR prices take a sharp bearish turnaround at the end of April, resulting in a downfall of 50%, dropping the market value to $140. However, the bullish reversal immediately recovered the 5% of the failure to reach the $200 mark. Nonetheless, the bears overtook the trend control resulting in a 12% fall to retest the $175. Source-tradingview XMR Technical Analysis The bearish trend starting after the rejection at $200 warns of a downfall close to $150 as the reversal aims to retest the broken resistance trendline. Moreover, the support from the rising trend in the intraday volume adds points to the bearish ideology. Coming to the technical indicators, a bearish retracement can be seen in all the indicators displaying a bearish takeover. The MACD indicator showcases a high bearish crossover probability as the bullish trend of histograms weakens. The RSI and stochastic RSI shows a bearish trend back in action and warns of the fallout of $175. Therefore, the indicators are highly bearish and signal a selling phase in the XMR price chart. Upcoming Trend Suppo...