XMR prices face a significant rise in selling near the $175 mark resulting in a downfall of 5.59%. Should you expect a fall below $150?

Key technical points:
<ul>
 	<li style="font-weight: 400">The XMR prices grew by 25% from $135 last week.</li>
 	<li style="font-weight: 400">Monero price action halts the V-shaped recovery at $175. </li>
 	<li style="font-weight: 400">The 24-hour trading volume of Monero is $192 Million, indicating an 11.5% rise. </li>
</ul>
<h2>Past Performance of XMR</h2>
As mentioned in our <a href="https://www.cryptoknowmics.com/news/xmr-technical-analysis-back-at-200-will-xmr-rise-again">previous analysis</a>, XMR prices break under the psychological mark of $200, resulting in a downfall below all the crucial SMAs. The decline shows lower price rejection at $115 to find a closing above the $130 and forming a morning star pattern. This bullish reversal pattern helps Monero recover 25% of market value over the weekends. 

<img src="https://s3.tradingview.com/snapshots/u/UestuC2M.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/UestuC2M/">Tradingview</a>
<h2>XMR Technical Analysis </h2>
The reversal rally in the XMR prices lacked the bullish support evident by the volume indicator. Thus, the start of the new week brings a reversal in Monero prices near the $170 mark resulting in a 5.55% fall with the latest daily candle, at press time. 

In the past few weeks, the heightened selling pressure has undermined the golden crossover between the 50- and 200-day SMA. The trend that is sideways after crossing falls under bears' pressure and plunges, increasing the chance of the death cross.

Following a dramatic parabolic reversal away from the oversold border, the RSI slope exceeds its 14-day SMA and displays a retest as the price reverts. Additionally, the DI lines of the DMI indicator suggest a higher likelihood of a trend reversal with a positive crossover since the DI lines take a sharp turn on the opposite side. 

In short, the XMR technical analysis depicts an increase in selling pressure as the uptrend takes a sharp hit.
<h2>Upcoming Trend</h2>
Let's say that traders at the resistance level of $170 make it difficult for the XMR prices to grow, and it will further push prices below $150. Moreover, the downward trend will eventually reach $135. But the bullish reversal resulting in lower price rejection will exceed $170 before reaching the 200 mark.

Support Levels: $150 and $135

Resistance Levels: $170 and $200

XMR Technical Analysis: Bears Hijack Uptrend Hoping A Reversal To $135

XMR prices face a significant rise in selling near the $175 mark resulting in a downfall of 5.59%. Should you expect a fall below $150?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

XMR Technical Analysis: Bears Hijack Uptrend Hoping A Reversal To $135

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