#notcoin Here is a simplified technical analysis for Monero (XMR)
🔍 Technical analysis for XMR (Monero)
✅ General trend (Trend)
Current trend: Sideways to bearish.
The price is moving between clear support and resistance levels, indicating a state of indecision in the market.
📉 Support and resistance
Strong support: $130 - $135
Nearby resistance: $160
Next resistance: $180
📊 Technical indicators
RSI (Relative Strength Index): around 45 – indicates a relative balance between buyers and sellers, without saturation.
MACD: Slight negative crossover – suggests the likelihood of continued decline in the short term.
Trading volume: Low, which may indicate a lack of strong momentum currently.
🟡 Technical patterns
Formation of a symmetrical triangle pattern on the daily timeframe, which may indicate an imminent price breakout (upward or downward).
⏳ Short-term outlook
If the price breaks below support at $130, we may see a drop towards $110–115.
If it breaks above resistance at $160 with a strong close, it may head towards $180 then $200.
📌 Summary
XMR is currently in a neutral to bearish zone, and investors are watching for a breakout of the technical triangle. We advise monitoring technical indicators and upcoming signals carefully, especially with weak liquidity.