$XMR has responded positively to the $360 demand zone, rising 5.7% in the past 48 hour. However, the recovery is facing stiff resistance at $380, which will determine the next short term trend.
๐น Short liquidation zones are concentrated above $385, $420, and $450, which tend to suck the price up to sweep liquidity.
๐ธ Despite the recovery, the On Balance Volume indicator still make a lower low on the daily chart, indicating that seller are still in control of the main trend and buying pressure is not really overwhelming.
๐น Buyer need to break $380 to continue the uptrend. If it is rejected and lose $360, the trend will completely turn bearish.
Do you think $XMR will be rejected here or will it rise to $420 to liquidate short?
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