Monero (XMR) Cryptocurrency Price Prediction, Forecast, and Technical Analysis for July 5th, 2021

Monero (XMR) weekly chart shows that a major setup could generate a major drop here. The 61.8% Fib retracement is the final major fib support and a move below that level shows its easier to move lower than higher in the volume profile. New historical lows on the weekly Composite Index. With the RSI showing a high probability of testing the 40 level and the %B about to cross below 0.2, I won’t be surprised to see Monero pushing the 88.6% Fib Retracement at the $140.56 value area. The daily setup really confirms continued weakness on the weekly chart. Once the %B crosses below 0.2 and the Composite Index drops below one or both of its averages, we’ll going to see a flash crash to that $140 zone. Massive volume trough in the volume profile.