This would be at least the 5th or 6th attempt to test the 176.5 level on Monero.
If the price breaks below this key level, the next stop could easily be 124. It will mostly depend on how BTC will do in the next few days.
In my opinion, the more times this level is being tested, the more chance we'll have that sooner or later this break will happen, and the fall could be huge.
We have bearish movement on most of the timeframes and MACD is also turning red.
I'm already short from 188, but with a target of 168 and stop with 197. I know it could turn around and skyrocket back up, but I already made very good gains shorting the market in the past day.
Let's see how it goes...
If the price breaks below this key level, the next stop could easily be 124. It will mostly depend on how BTC will do in the next few days.
In my opinion, the more times this level is being tested, the more chance we'll have that sooner or later this break will happen, and the fall could be huge.
We have bearish movement on most of the timeframes and MACD is also turning red.
I'm already short from 188, but with a target of 168 and stop with 197. I know it could turn around and skyrocket back up, but I already made very good gains shorting the market in the past day.
Let's see how it goes...