Monero (XMR) continued its bullish trend that it started in early July until 7883. This week, the XMR, which has seen a sharp drop in the July peak price, seems to be holding onto 7429 support.
Critical Levels for Monero
On the 3-hour chart of XMRBTC, 50 MA appears to be an intermediate resistance, with the 7450 sats breaking, Monero can move back to the top of this week. 3 hour candle closings under 7429 sats can accelerate the downward trend. This 7429 percent can be used as an important support (stop-loss price).
Looking at the XMR / BTC parity in the long term in the daily view, it is seen that the downtrend drawn on the basis of ATH in 2020 is trying to break this week. Accordingly, if the week’s closing takes place over the price of 7440 sats, the probability of an XMR rally increases next week.